MENA Financial Crime Compliance Group (MENA FCCG)

The MENA Financial Crime Compliance Group (MENA FCCG) is a voluntary body that aims to combat money laundering and terrorist financing in the MENA region. It comprises 13 banks from nine countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the UAE, and is led by Mr. Wissam H. Fattouh, the Secretary General for the Union of Arab Banks. The group's mandate is to elevate the momentum on AML/CTF efforts through collective action. It acts as a link between the private sector and external/regulatory bodies and aims to be the voice of practitioners to inform or influence regulators, the banking community, and correspondent banks. Additionally, it provides technical assistance to banks in developing countries in MENA to enhance their AML/CTF Programs. MENA FCCG's key deliverables include hosting webinars for compliance professionals, arranging financial crime seminars with international bodies and specialists, and publishing working documents and guidelines. The group was launched in September 2016 in an inaugural meeting in Bahrain. The initiative addresses critical issues within the financial sector and serves as a collaborative platform for member banks to navigate complex regulations, share best practices, and enhance their compliance programs.