Damascus, July 23 (SANA) A high‑level meeting was held Thursday at the General Secretariat of the Presidency of the Republic, bringing together the Combating Money Laundering and Terrorism Financing Commission (CMLTFC) and representatives of relevant national bodies with a delegation from the Middle East and North Africa Financial Action Task Force (MENAFATF), headed by Hamid Saif Al‑Zaabi.
Participants discussed the requirements of the upcoming phase and ways to strengthen coordination among specialized entities, in line with best practices and international standards—marking a notable shift in the trajectory of Syria’s regional financial cooperation.
They emphasized that the meeting carries exceptional significance, as it comes during the first official MENAFATF visit to Syria since 2010. It also forms part of efforts to enhance cooperation with the group and support national preparations for the mutual evaluation Syria will undergo in 2027—one of the most important international mechanisms for assessing the effectiveness of anti-Money Laundering and Combating the Financing of Terrorism, and counter‑proliferation systems, in accordance with FATF standards.
Participants noted that the importance of the visit also lies in its role as a key milestone in strengthening Syria’s readiness for the mutual evaluation, reinforcing the integrity of the financial system, and enhancing trust and cooperation with regional and international partners.
In a press statement, Governor of the Central Bank of Syria and Chairman of the Combating Money Laundering and Terrorism Financing Commission, Safwat Raslan, said that the discussions focused on removing Syria from the grey list.
He explained that the high‑level meeting reflects genuine commitment from the Syrian government and all ministers, and demonstrates full cooperation and coordination on this complex and highly important file for the coming phase.
Raslan added that combating money laundering and terrorism financing in Syria is a critical matter. The Central Bank, in cooperation with the commission, ministries, and directorates, is developing both a timeline and an operational framework to resolve existing challenges, enabling Syria to exit the grey list soon and subsequently reopen and integrate with the global financial, banking, and economic systems—bringing significant benefits to the country.
He noted that the meeting included extensive discussions, with the MENAFATF delegation offering advice and recommendations, alongside valuable interventions from ministers, reflecting full awareness of the importance of combating money laundering and terrorism financing.
MENAFATF President Hamid Saif Al‑Zaabi expressed satisfaction with the meeting’s outcomes, noting agreement on a rapid work mechanism to meet standards through the National Strategy for Combating Money Laundering and Terrorism Financing launched this week, and through the National Risk Assessment process, which has begun in coordination with relevant entities under the leadership of the national coordinator—the Anti-Money Laundering and Combating the Financing of Terrorism.
Minister of Justice Mazhar Al‑Weis highlighted those national efforts toward recovery, investment attraction, and rebuilding financial and economic structures require substantial work led by the Central Bank of Syria with the participation of specialized bodies. He stressed the importance of the high‑level ministerial meeting with MENAFATF to set evaluation standards and outline the required procedures.
The Middle East and North Africa Financial Action Task Force (MENAFATF) is a regional organization dedicated to promoting compliance with international standards on combating money laundering, terrorism financing, and proliferation financing. It includes member states from the region. The Financial Action Task Force (FATF), established in 1989 by the G7, is an independent international body that sets global standards to protect the financial system from money laundering, terrorism financing, and proliferation.
FATF includes more than 200 countries and organizations and works in coordination with regional bodies such as MENAFATF and international institutions including the World Bank and the International Monetary Fund.
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