UAE and Bahrain sign deal to deepen anti-money laundering

• Both nations will expand collaboration across policy, supervision, and enforcement—sharing knowledge, expertise, and best practices, as well as developing joint training and awareness initiatives.

The United Arab Emirates (UAE) and Bahrain have formalised a new agreement to enhance their cooperation in fighting financial crime, signing a Memorandum of Understanding (MoU) on the sidelines of the 41st Plenary Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF).

The MoU was signed between Hamid AlZaabi, Secretary-General and Vice Chair of the UAE National Anti-Money Laundering and Countering the Financing of Terrorism and Financing of Proliferation Committee (NAMLCFTPFC), and Sheikha May bint Mohamed Al Khalifa, Chief Executive of The Financial Intelligence National Center and Chair of the Bahrain AML/CFT Committee.

“This agreement reflects the shared vision of the UAE and Bahrain to build a more coordinated, resilient, and effective regional response to financial crime,” said AlZaabi.

With the UAE and Bahrain set to jointly preside over MENAFATF in 2026, he noted that the partnership will be instrumental in advancing the region’s anti-money laundering and counter-terrorism financing (AML/CFT) goals.

Upholding transparency and integrity

Sheikha May bint Mohammed Al Khalifa underscored the significance of the accord, emphasising the value of a robust, formal framework for communication and coordination in upholding transparency and integrity: “We believe that this step will reinforce our joint cooperation and enhance our ability to address these challenges more effectively.”

Under the MoU, the UAE and Bahrain will expand collaboration across policy, supervision, and enforcement—sharing knowledge, expertise, and best practices, as well as developing joint training and awareness initiatives. The agreement also outlines mechanisms for the two nations to jointly develop regulatory and risk-based supervisory tools aligned with FATF standards.

Key provisions include the regular exchange of case studies on cross-border financial crime, collaborative research projects, and the creation of joint task forces to address emerging risks and enhance resilience against illicit financial flows. Both committees have also committed to periodic consultations to monitor the agreement’s implementation and to foster ongoing opportunities for cooperation.

The move comes as both nations prepare to lead MENAFATF and support its third round of mutual evaluations, signaling their intent to cement a more unified and robust framework against regional and international financial crime.