National Committee for Combating Money Laundering and Terrorist Financing Hosts 'Applications and Capacity Building' Workshop for MENAFATF

Kuwait City, 5 Oct (KUNA) -- Kuwait hosted today, Monday, the 2026 Applications and Capacity-Building Workshop 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.

Minister Al-Rafai said in a speech during the workshop that Kuwait’s hosting of the event reflects the importance of joint cooperation and the exchange of expertise and knowledge in the field of combating money laundering and the financing of terrorism, stemming from its firm commitment to continuously upgrading its national system in collaboration with 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 enhancing 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 deal efficiently with emerging challenges and risks. It also 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.

Dr. Al-Rafai expressed his sincere gratitude and appreciation to all entities involved in organizing the workshop, as well as to all participants, experts, and speakers for their valuable contributions. He wished the workshop’s proceedings success and achievement of its desired objectives, and hoped it would contribute to supporting and enhancing joint efforts in combating money laundering and the financing of terrorism.

For his part, Hamed Al-Zayani, Chairman of MENAFATF, said in a similar speech that capacity building is a key priority in MENAFATF’s work due to its direct role in strengthening member states’ ability to protect their financial systems and effectively combat money laundering, the financing of terrorism, and the financing of weapons proliferation.

Al-Zayani added that the success of national systems depends on competent professionals capable of understanding risks, analyzing information, and taking appropriate actions in a timely manner. He pointed out that investing in national competencies is an investment in the security and financial and economic stability of countries.

He clarified that the importance of this workshop lies in bringing together expertise and experiences regarding issues directly related to the work of competent authorities, starting from detecting financial crimes to investigating them and recovering the proceeds.

He noted that the workshop’s significance also stems from providing a platform to discuss challenges faced by countries, learn from successful solutions, and enhance communication among specialists, considering that such cooperation is needed by the region to confront crimes that transcend national borders and constantly change their methods.

He stated that the evolution of criminal patterns necessitates continuous development in countermeasures, as the speed of transfers, the multiplicity of digital platforms, and the misuse of virtual assets provide additional means for transferring funds and concealing their sources and beneficiaries.

Al-Zayani explained that these changes require updating risk understanding, developing supervisory and financial analysis tools, and enhancing the ability of competent authorities to exchange and handle information quickly.

He pointed out that the development of financial services must be accompanied by an evolution in the ability to protect them from exploitation, thereby supporting trust in them and maintaining the integrity of the financial system.

He highlighted that the workshop covers the importance of partnership between the private sector, regulatory authorities, financial intelligence units, law enforcement agencies, and judicial authorities, noting that each entity possesses information and authorities that contribute to the success of combating financial crimes and enhance coordination in their ability to act in a timely manner.

For his part, 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, said in a similar speech that the workshop comes at a time when criminals’ methods are evolving at a rapid pace. He noted that fraud operations have become cross-border and digital-platform-based, and virtual assets, digital wallets, and artificial intelligence technologies have become susceptible to exploitation for concealing criminal proceeds and financing terrorism.

Dr. Al-Mukarrad added that the workshop discusses three main topics: financial fraud, 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 entities in member states by discussing the latest trends, methods, and patterns used in money laundering and terrorism financing crimes at national, regional, and international levels.

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

He stated that this workshop is among the most prominent regional specialized events in combating money laundering, the financing of terrorism, and the financing of weapons proliferation. It comes within the framework of cooperation with MENAFATF, as the regional body responsible for supporting member states’ efforts to apply relevant international standards and enhance cooperation, exchange of expertise, and capacity building among member states.

Al-Mukarrad pointed out that the workshop holds special importance at the regional level as a specialized platform that brings together a select group of experts, technicians, and practitioners in combating money laundering and the financing of terrorism from various countries and relevant entities, including regulatory and financial authorities, financial intelligence units, and law enforcement agencies.

He explained that Kuwait’s hosting of this workshop reaffirms its firm commitment to supporting regional and international efforts aimed at enhancing the effectiveness of money laundering and terrorism financing combating systems, thereby contributing to consolidating joint cooperation and developing national and regional capacities in this vital field. (End) M.D. / T.A.B.