Kuwait hosted the 2026 Applications and Capacity Building Workshop of the Middle East and North Africa Financial Action Task Force (MENAFATF) on Monday, convened under the patronage of Finance Minister Dr. Yaqoub Al-Refai. The event, organized by Kuwait’s National Committee for Combating Money Laundering and Terrorist Financing, aimed to enhance regional efforts to combat financial crimes, including money laundering and terrorist financing.
Minister Al-Refai emphasized Kuwait’s commitment to strengthening its national framework in partnership with regional and international bodies. He highlighted the importance of cooperation and expertise exchange in protecting financial and economic systems from illicit exploitation while promoting transparency and integrity within financial institutions. The workshop sought to develop the technical and institutional capabilities of specialists, review the latest global developments and practices, and improve the readiness and compliance of relevant authorities across the region.
Al-Refai described combating financial crime as a shared responsibility that necessitates coordinated efforts among national, regional, and international stakeholders. He noted that the workshop served as a critical platform for expanding knowledge, refining technical skills, and enhancing the supervisory and preventive roles of institutions tasked with addressing these issues. He also expressed appreciation to all participants, experts, and organizers for their contributions.
MENAFATF President Hamid Al-Zaabi underscored capacity building as a central priority for the group, pointing to its role in reinforcing member states’ abilities to safeguard their financial systems against money laundering, terrorist financing, and proliferation financing. According to Al-Zaabi, effective national systems rely heavily on skilled personnel capable of assessing risks and responding appropriately in a timely manner. He framed investment in expertise as an investment in national security and economic stability.
The workshop also provided an opportunity to discuss common challenges, share successful strategies, and bolster communication among specialists. Al-Zaabi stressed that evolving criminal techniques require continuous adaptation, including updating risk assessments and enhancing supervisory and financial analysis tools. He highlighted the critical role of cooperation among private sector entities, supervisory authorities, financial intelligence units, law enforcement, and judicial bodies to ensure effective and timely action.
Dr. Hamad Al-Mekrad, chairman of Kuwait’s National Committee for Combating Money Laundering and Terrorist Financing and head of the Kuwait Financial Intelligence Unit, noted the rapid advancement of criminal methods, citing the rise of cross-border and digital fraud. He also pointed to emerging risks associated with virtual assets, digital wallets, and artificial intelligence technologies, which can be exploited to conceal illicit proceeds and fund terrorism.
The workshop concentrated on three main topics aligned with the priorities of the Financial Action Task Force (FATF) Presidency for 2026–2028: financial fraud and illicit financial flows, asset recovery, and the nexus between technology and terrorist financing. This focus reflects the region’s ongoing efforts to adapt to a shifting financial crime landscape and strengthen its defenses against increasingly sophisticated threats.