Maghreb Countries Back Initiative Against Terrorist Financing
2004-12-01
Fourteen Arab states Tuesday (30 November) united efforts to combat terrorist financing and money laundering with the launch of a regional task force to co-ordinate strategy. At an inaugural meeting in Bahrain the Middle East and North Africa Financial Action Task Force (Menfat) committed itself to implementing some 40 recommendations of the Paris-based Financial Action Task Force.
there was no official body in the region to co-ordinate efforts and facilitate monitoring money flows
Until now there was no official body in the region to co-ordinate efforts and facilitate monitoring money flows to terrorist groups. Menfat groups are Saudi Arabia, Bahrain, Oman, the United Arab Emirates, Qatar, Kuwait, Yemen, Jordan, Syria, Lebanon, Egypt, Tunisia, Algeria and Morocco. (The Peninsula, FT)
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