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MENAFATF Regional FATF Standards

MENA Region

2004

AML/CFT

Overview

The Middle East and North Africa Financial Action Task Force (MENAFATF) was established in 2004 as a regional body to implement and promote the FATF's 40 Recommendations on anti-money laundering (AML) and countering the financing of terrorism (CFT) across MENA jurisdictions. It operates as an associate member of the FATF, supporting consistent adoption of international AML/CFT standards.

Member countries commit to assessing their legal, institutional, and regulatory frameworks, conducting mutual evaluations, and adopting FATF-aligned measures. These include obligations related to customer due diligence, beneficial ownership transparency, suspicious transaction reporting, and international cooperation in financial crime enforcement. The standards apply to banks, financial institutions, money service businesses, DNFBPs (designated non-financial businesses and professions), virtual asset service providers (VASPs), and regulatory authorities operating in the region.

Key Obligations

Implement comprehensive AML/CFT laws aligned with FATF's 40 Recommendations
Establish Financial Intelligence Units (FIUs) for collecting and analyzing suspicious transactions
Conduct risk-based customer due diligence and ongoing monitoring

Mandate reporting of suspicious transactions to authorities
Enforce beneficial ownership transparency and prevent misuse of legal persons
Cooperate internationally in investigations, enforcement, and mutual evaluations

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Related Regulations

FATF 40 AML/CFT Recommendations

AML/CFT Law No. 20 of 2019

UAE goAML Reporting Platform

FAQ

What is MENAFATF's role in the global AML framework?

It helps MENA countries implement FATF standards by conducting mutual evaluations and issuing guidance aligned with international norms.

Which countries are members of MENAFATF?

As of 2025, it includes 21 member jurisdictions such as the UAE, Saudi Arabia, Egypt, Morocco, and Qatar.

Are MENAFATF standards legally binding?

No, MENAFATF itself does not issue binding laws, but member countries must enact national laws that reflect FATF standards.

Who must comply with these standards in MENA countries?

Financial institutions, VASPs, DNFBPs, and regulators must comply with local laws shaped by MENAFATF and FATF guidelines.