Morocco to chair Middle East, North Africa financial action task force in 2022

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.

The designation of the Kingdom took place on the sidelines of MENAFATF 33rd assembly, held on November 16 and 17 in Cairo, in the presence of representatives of 21 member states, in addition to observers representing the Financial Action Task Force (FATF), namely the United States, the European Commission, Germany, the United Kingdom, France and the Gulf Cooperation Council (GCC), ANRF said in a statement.

During this meeting, the President of the Authority, who represented the Kingdom, proceeded to the presentation of the second report of Morocco’s reinforced monitoring and reviewed the efforts made by the Kingdom, since the date of adoption of the first report in November 2020, as well as the main measures taken at the legislative, institutional, operational and national cooperation levels, the same source noted.

It was also 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, as well as the measures adopted as part of the development of bilateral and multilateral cooperation with international partners and strengthening the position of Morocco at the level of regional and international bodies.

During the meeting, the priorities of the mandate for the Group’s presidency in the coming year were also presented, which are based on the continued implementation of the action plan agreed with the FATF, the consolidation of the foundations of governance within the Group, the improvement of the evaluation and monitoring processes and the strengthening of the group’s role in various fora and international activities