Al-Rafai: Combating Money Laundering and Terrorist Financing is a Shared Responsibility Requiring United Efforts

Kuwait hosted yesterday the Applications and Capacity Building Workshop for 2026 of the Middle East and North Africa Financial Action Task Force (MENAFATF), represented by the National Committee for Combating Money Laundering and Financing of Terrorism, under the patronage and attendance of Minister of Finance Dr. Yaqoub Al-Rafai.

In a speech during the workshop, Minister Al-Rafai stated that Kuwait’s hosting of the workshop embodies the importance of joint cooperation and the exchange of expertise and knowledge in the field of combating money laundering and the financing of terrorism, reflecting its firm commitment to continuously enhancing its national system in collaboration with its regional and international partners. He added that the workshop aims to develop the technical and institutional capacities of professionals in this field and to review the latest international developments and practices, thereby strengthening the preparedness and compliance levels of relevant authorities.

He emphasized that combating these crimes is a shared responsibility that requires concerted efforts and coordination among national, regional, and international authorities to protect financial and economic systems from exploitation in illegal activities, and to enhance transparency, integrity, and trust in financial institutions.

He noted that this workshop represents an important tool in building knowledge expertise, refining technical skills, and strengthening the institutional competencies required by professionals in this vital field, enabling them to keep pace with rapid developments and to deal efficiently with emerging challenges and risks. This contributes to countering practices that seek to undermine or exploit financial and economic systems, and enhances the ability of institutions to perform their supervisory and preventive roles efficiently and effectively.

For his part, Hamed Al-Zubaidi, Chairman of the Middle East and North Africa Financial Action Task Force (MENAFATF), said in a similar speech that capacity building is a key priority in MENAFATF’s work, given its direct role in strengthening the ability of member states to protect their financial systems and effectively combat money laundering, the financing of terrorism, and the financing of weapons proliferation.

In a similar address, Dr. Hamad Al-Mukarrad, Chairman of the National Committee for Combating Money Laundering and Financing of Terrorism and Chairman of the Kuwait Financial Intelligence Unit, stated that the workshop takes place at a time when criminals’ methods are evolving at a rapid pace. He pointed out that fraud operations have become cross-border, digital platforms are increasingly involved, and virtual assets, digital wallets, and artificial intelligence technologies are vulnerable to exploitation for concealing criminal proceeds and financing terrorism.

Al-Mukarrad added that the workshop discusses three main themes: financial fraud and illicit financial flows, asset recovery, and the relationship between technology and the financing of terrorism, in line with the priorities of the MENAFATF Chairmanship for the period 2026–2028.

He clarified that the workshop aims to enhance the capacities of specialists in combating money laundering, the financing of terrorism, and the financing of weapons proliferation within government authorities in member states by discussing the latest trends, methods, and patterns used in money laundering and terrorism financing at the national, regional, and international levels.

He noted that the workshop also aims to strengthen the capacities of specialists by reviewing practical cases, applied studies, and the experiences of member states to benefit from best practices, as well as to contribute to improving the efficiency of employees in regulatory and financial authorities, financial intelligence units, and law enforcement agencies.

On another note, the National Committee for Combating Money Laundering and Financing of Terrorism hosted yesterday the 31st meeting of the Financial Intelligence Units Forum, held on the sidelines of the Applications and Capacity Building Workshop for the Middle East and North Africa Financial Action Task Force (MENAFATF).