Kuwait hosts MENAFATF workshop to enhance anti-money laundering and counter-terrorism financing efforts
Kuwait hosted a MENAFATF workshop under the patronage of the Minister of Finance to strengthen regional cooperation and combat financial crimes.
Translated by Qiyas from الوسط — Original source
Kuwait, represented by the National Committee for Combating Money Laundering and Financing of Terrorism, hosted today, Monday, the 2026 “Applications and Capacity Building” workshop organized by the Middle East and North Africa Financial Action Task Force (MENAFATF), under the patronage and attendance of Minister of Finance Dr. Yaqoub Al-Rafai.
Dr. Al-Rafai emphasized that Kuwait’s hosting of the workshop reflects the importance of regional cooperation and the exchange of expertise in combating money laundering and the financing of terrorism. He noted that developing technical and institutional capacities and reviewing the latest international practices contribute to enhancing the readiness of relevant authorities and strengthening compliance standards.
He clarified that combating financial crimes is a shared responsibility requiring continuous coordination among national, regional, and international bodies, thereby enhancing the protection of financial and economic systems from illicit exploitation and supporting transparency and trust in financial institutions.
For his part, MENAFATF Chairman Hamed Al-Zubaidi stressed that capacity building is a priority in the group’s work, particularly given the evolving methods of financial crimes and the expanding use of digital platforms and virtual assets for transferring funds and concealing their sources and beneficiaries.
The workshop covers three main pillars: financial fraud, illicit financial flows, and asset recovery, alongside the relationship between technology and the financing of terrorism, with a focus on practical cases, international experiences, and best practices in addressing these risks.
On his part, Dr. Hamad Al-Mukarrad, Chairman of the National Committee for Combating Money Laundering and Financing of Terrorism and Head of the Kuwait Financial Intelligence Unit, stated that the rapid advancement in digital technologies, artificial intelligence, and virtual assets and wallets necessitates the continuous updating of monitoring and financial analysis tools.
He added that the workshop aims to enhance the efficiency of staff in regulatory and financial authorities, financial intelligence units, and law enforcement agencies through the exchange of expertise and the study of modern patterns of financial crimes, thereby strengthening the ability to detect, investigate, and recover illicit proceeds.
Dr. Al-Mukarrad noted that the event serves as a regional platform bringing together experts and specialists from regulatory, financial, judicial, and law enforcement bodies, thereby enhancing coordination and the exchange of information and expertise. He affirmed that Kuwait’s hosting of the workshop aligns with its support for regional and international efforts and the development of national capacities in this field.
