Today, Sheikha May bint Mohamed AlKhalifa, Egmont Group Vice-Chair, Mena Regional Representative and Head of FIU-Bahrain delivered an insightful speech at the Middle East and North Africa Financial Action Task force (MENAFATF) Capacity Building Workshop that focused on international communication protocols for Financial Intelligence Units (FIUs).
In her speech, Sheikha May AlKhalifa emphasized the critical need for global cooperation to effectively combat money laundering, related predicate crimes, and terrorist financing. Her impactful message highlighted the importance of cross-border collaboration to enhance financial transparency and security. She reinforced the Egmont Group’s dedication to fostering collaboration, sharing best practices, and providing technical assistance to its members.
The EG Vice-Chair shared with the audience various typologies that illustrate common methods used in money laundering and terrorist financing with transnational elements. These examples served to underline the importance of vigilance and continuous learning in the fight against financial crimes. She also addressed significant challenges FIUs face while also highlighting various opportunities for enhancing the capabilities of FIUs such as emerging technologies, international partnerships, capacity building, and public engagement.
During her address, Sheikha May AlKhalifa stated, “By fostering trust and cooperation among member Financial Intelligence Units (FIUs), we not only strengthen the global financial intelligence network but also unlock significant opportunities for combating financial crimes more effectively. Strengthening global partnerships and leveraging emerging technologies stand as promising avenues for enhancing our capabilities.”
