Finance Minister: Combating Financial Crimes is a Shared Responsibility Requiring Coordination Among National, Regional, and International Entities
- During the MENAFATF workshop to enhance capacities in combating money laundering and terrorist financing
- Al-Rafai: Hosting the workshop embodies Kuwait’s commitment to developing its national system and exchanging expertise
- Al-Zayani: Capacity building is a priority to strengthen the protection of financial systems and confront financial crimes
- Al-Mukarram: Fraud, virtual assets, and artificial intelligence necessitate the development of tools to combat financial crimes
Kuwait, represented by the National Committee for Combating Money Laundering and Terrorist Financing, hosted today, Monday, the 2026 "Applications and Capacity Building" workshop of the Middle East and North Africa Financial Action Task Force (MENAFATF), 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 event underscores the importance of joint cooperation and the exchange of expertise and knowledge in combating money laundering and terrorist financing, 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 entities, thereby protecting financial and economic systems from exploitation in illegal activities and enhancing transparency, integrity, and trust in financial institutions.
He noted that the workshop serves as an important tool for building knowledge, refining technical skills, and strengthening the institutional competencies required by professionals in this vital field, enabling them to keep pace with rapid developments and efficiently address emerging challenges and risks. It also contributes to confronting practices aimed at undermining or exploiting 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-Zayani, Chairman of MENAFATF, stated that capacity building is a primary priority in the Group’s work, given its direct role in enhancing the ability of member states to protect their financial systems and effectively combat money laundering, terrorist financing, and the financing of weapons proliferation.
Al-Zayani added that the success of national systems depends on competent personnel capable of understanding risks, analyzing information, and taking appropriate actions in a timely manner, noting that investing in national competencies is an investment in the security and financial and economic stability of countries.
He clarified that the importance of the workshop lies in bringing together expertise and experiences regarding issues directly related to the work of competent authorities, from detecting financial crimes to investigating them and recovering the proceeds, as well as providing a platform to discuss challenges faced by countries, learn from successful solutions, and enhance communication among specialists.
He pointed out 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.
For his part, Dr. Hamad Al-Mukarrad, Chairman of the National Committee for Combating Money Laundering and the Financing of Terrorism and Head of the Kuwait Financial Intelligence Unit, stated that the workshop comes at a time when criminals’ methods are evolving at an accelerating pace. He noted that fraud operations have become cross-border and digital, and that virtual assets, digital wallets, and artificial intelligence technologies are increasingly vulnerable to exploitation for concealing illicit proceeds and financing terrorism.
Al-Mukarrad added that the workshop will address three key themes: financial fraud and illicit financial flows and asset recovery, and the nexus between technology and the financing of terrorism, in line with the priorities of the Financial Action Task Force (FATF) 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 these crimes at the national, regional, and international levels.
He emphasized that Kuwait’s hosting of the workshop underscores its firm commitment to supporting regional and international efforts aimed at strengthening the effectiveness of anti-money laundering and counter-terrorist financing frameworks, thereby contributing to consolidating joint cooperation and developing national and regional capacities in this vital field.
