MENA Financial Crime Compliance Group (MENA FCCG)

The MENA Financial Crime Compliance Group (MENA FCCG) is a voluntary body that seeks to bring collective action in the fight against money laundering and terrorist finance in the region. The group comprises 13 banks from nine MENA countries, including; Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and the UAE. The Group, is presided over by Mr. Wissam H. Fattouh, Secretary General for the Union of Arab Banks. Our Group Mandate Whilst MENA banks have built AML/CTF processes, controls, and expertise over the years, in recent years, developments have increased the risk levels in the region. Hence the momentum on AML/CFT efforts must be brought to a higher level; which can only be achieved through collective actions in all jurisdictions. Our Group Purpose To be the link or feedback channel between the private sector and external/ global bodies/regulators. To be a platform that acts as the voice of the practitioners to inform or influence regulators, the wider banking community, correspondent banks and other entities that impact the compliance and risk community in MENA. To support the compliance profession in the region by translating complex regulations and best practice into practicable guidance that target the uniqueness of the region. To provide technical assistance to banks in MENA developing countries in order to enhance their AML/CTF Programs. Key Deliverables Arrange for webinars to be hosted through Thomson Reuters platform free of charge for MENA compliance professionals. Arrange for financial crime seminars and invite key international bodies, financial crime specialists, and global correspondent banks as a key dialogue mechanism. Publish working documents and guidelines developed through its Working Committees. History MENA FCCG was launched in September 2016 in an inaugural meeting in Bahrain.