The Middle East and North Africa Financial Action Task Force (MENAFATF) is to hold its inaugural meeting in Bahrain next Monday, it emerged this week.
The new body, which has been formed under the auspices of the Organisation for Economic Cooperation and Development (OECD), will seek to combat money laundering and terrorist financing activities in the region, in line with the wider international campaign being led by the OECD's Financial Action Task Force (FATF).
Speaking to Gulf News on Monday, Sheikh Ebrahim Bin Khalifa Al Khalifa, undersecretary of Bahrain's Ministry of Finance and National Economy, revealed that the two day meeting is set to be attended by finance ministers from 18 Middle Eastern and North African countries.
The president, vice-president and executive secretary of the regional task force are expected to be named following the inaugural meeting.
A comprehensive report on the OECD, FATF and other 'offshore' initiatives, including the EU's Savings Tax Directive is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop/
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