Saudi Arabia, represented by the Saudi Central Bank (SAMA), is hosting the 39th general meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF), running from November 16 to 21, 2024, in Riyadh. The event is being held under the presidency of the Republic of Yemen, with the participation of senior officials and specialists from member states and observers, alongside prominent regional and international organizations.

A Wide-Ranging Agenda to Combat Financial Crime

The meeting will feature intensive discussions on critical issues, including combating money laundering, terrorism financing, and the proliferation of weapons, in addition to strengthening international cooperation to protect regional economic systems from the risks of financial crime. A forum for financial intelligence units and a forum for counter-terrorism-financing experts will also be held, alongside a meeting of the risk committee.

A Special Conference Marking the Group's 20th Anniversary

On the sidelines of the meeting, a high-level international conference will be held to mark the 20th anniversary of the task force's founding. The conference will be opened by His Excellency Ayman bin Mohammed Al-Sayari, Governor of the Saudi Central Bank, who will address key achievements and challenges in combating financial crime.

Main Sessions Covering the Latest Developments

The conference includes four main sessions, covering:

  1. Implementing international standards: the role of the Financial Action Task Force and its regional counterparts.
  2. Mutual evaluation: lessons learned and a look to the future.
  3. Virtual assets and emerging technologies: applying financial standards and country experiences.
  4. Tracing and recovering assets: best practices and mechanisms for international cooperation.

Strengthening Regional and International Efforts

The Kingdom's hosting of this major event reflects its ongoing commitment to supporting international efforts to combat financial crime, and its active role in developing effective strategies to safeguard the region's economies.