TFTC Workshop on FATF Mutual Evaluations

On March 1, 2023, members of the Terrorist Financing Targeting Center (TFTC) participated in a virtual workshop focused on the Financial Action Taskforce (FATF) Mutual Evaluation (ME) process. The workshop allowed TFTC members to share insights and knowledge based on their experiences with FATF MEs.

Suliman AlJabrin, MENAFATF Executive Secretary, offered opening remarks emphasizing the importance of early preparation and coordination by the countries being assessed. He also discussed many of the challenges associated with the ME process and gave tips on overcoming these hurdles.

The Kingdom of Saudi Arabia (KSA) and the Kingdom of Bahrain presented on their experiences and lessons learned throughout the MER process and helped identify best practices. KSA noted the importance of complying with international standards especially in relation to terrorist financing. In addition, Bahrain highlighted the importance of this process that presents an opportunity for countries to develop and grow by identifying and addressing potential gaps, thereby aligning anti-money laundering and countering the financing of terrorism (AML/CFT) regimes with international best practices.

This workshop was an opportunity to hear from TFTC members that have successfully navigated the ME process and allowed their counterparts Kuwait and Oman to ask important and insightful questions as they begin their own preparations. The TFTC will continue to seek opportunities for member states to share their expertise and collaborate on strengthening member countries’ abilities to disrupt terrorist financing networks.