The middle east and north Africa financial action task force against money laundering and terrorist financing (MENAFATF) announced the issuance of the fifth enhanced follow-up report for the Hashemite Kingdom of Jordan, which shows significant progress in the alignment of national laws and procedures with international standards related to combating money laundering, terrorist financing, and the proliferation of weapons.
This achievement comes within the framework of the royal directives of His Majesty King Abdullah II bin Al-Hussein aimed at enhancing Jordan’s international standing and elevating the national legislative and procedural system in line with the best international standards, in addition to the concerted efforts of the national partnering agencies and continuous monitoring by the National Committee for Combating Money Laundering and Terrorism Financing.
The head of the National Committee for Combating Money Laundering and Terrorism Financing, Dr. Adel Al-Sharka, CBJ governor, stated that after the adoption of this report, the number of recommendations that the Kingdom has proven its commitment increased from (19) recommendations in 2019 to (36) recommendations out of a total of (40) recommendations and international standards.
The report includes a review of the Kingdom’s efforts which demonstrate the conformity of Jordanian legislation and the measures taken at the national level with international standards for combating money laundering, terrorist financing, and the proliferation of weapons concerning four international recommendations related to non-profit organizations (associations and companies that are not aimed at profit), legal arrangements (waqf), providing guidance and feedback to entities subject to the provisions of the law, in addition to enhancing the capabilities and procedures of supervisory and regulatory bodies over the sector of designated non-financial businesses and professions (lawyers, accountants, jewelry crafting and selling, precious metals and stones, real estate offices). The Kingdom submitted a request for a re-evaluation of these recommendations in November 2024, and the procedures for re-evaluation were carried out, analyzing legislation, data, and statistics supporting the Kingdom’s request, leading to an increase in the compliance ratings for these recommendations.
This report, which has been endorsed, serves as a certificate from the Financial Action Task Force for the Middle East and North Africa (MENAFATF) regarding the safety and effectiveness of the anti-money laundering and counter-terrorism financing measures implemented by the Kingdom, successfully enhancing its national system and increasing its effectiveness. This is the Kingdom’s latest enhanced follow-up report during the current round of the mutual evaluation process of anti-money laundering and counter-terrorism financing systems.
Jordan’s commitment to anti-money laundering and counter-terrorism financing standards has been improved
