The regional workshop on “Risk-Based Approach and Risk Assessment Mechanisms for Financial Institutions” kicked off this morning, organized by the Middle East and North Africa Financial Action Task Force (MENAFATF) in cooperation with the Arab Monetary Fund and the German Agency for International Cooperation (GIZ), with the participation of experts from member countries, observers and conducted in AMF headquarter in Abu Dhabi, UAE.

The workshop aims to enhance participants’ understanding of the risk-based approach and its application in AML/CFT, empower supervisory authorities to develop risk-driven strategies using modern technological solutions, and address emerging challenges in the financial sector. It also emphasizes transparency around beneficial ownership and promotes stronger public-private partnerships through effective information sharing and compliance enhancement.

Throughout the event, participants will engage in interactive case studies and practical exercises applying risk based approach, AI and data analytics for effective risk assessment, while identifying best practices and exchanging experiences regionally.