Rabat – Morocco will chair the Middle East and North Africa Financial Action Task Force (MENAFATF) in 2022, the National Authority for Financial Intelligence (ANRF) announced on Wednesday.
Morocco’s designation took place on the sidelines of the 33rd MENAFATF assembly, held on November 16 and 17 in Cairo.
The decision also saw the presence of representatives of 21 member states, in addition to observers representing the Financial Action Task Force (FATF). The observing nations include the United States, the European Commission, Germany, the United Kingdom, France and the Gulf Cooperation Council (GCC), ANRF said in a statement.
The meeting was an opportunity to highlight the achievements of the national action plan’s implementation, which was agreed upon by the FATF to harmonize the national system with international standards and strengthen its effectiveness.
National and international observers also discussed the main measures taken at the legislative, institutional, operational and national cooperation levels, the same source noted.
During the meeting, the President of the Authority, who represented the Kingdom, presented the second report of Morocco’s reinforced monitoring and reviewed the efforts made by the Kingdom.
The president also highlighted the measures adopted in terms of the development of bilateral and multilateral cooperation with international partners as well as strengthening the position of Morocco at the regional and international level.
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The Middle East and North Africa Financial Action Task Force (MENAFATF) is a regional institution similar to the Financial Action Task Force (FATF) for nations in the Middle East and North Africa. It is a voluntary and cooperative association that was founded by an agreement made between the governments of 14 Arab countries.
The organization aims to raise awareness about the risks that money laundering and terrorism funding present to countries in the Middle East and North Africa region.
