Ammon News - Jordan has made notable progress in aligning its regulatory framework with global standards for combating money laundering and terrorism financing, according to the fifth enhanced follow-up report issued by the Middle East and North Africa Financial Action Task Force (MENAFATF).

The report highlights a significant improvement in the country’s technical compliance, with Jordan now meeting 36 out of approximately 40 international recommendations, up from 19 in 2019. The progress reflects a sustained national effort to modernize financial oversight, which is in line with directives aimed at enhancing Jordan’s global standing and strengthening its legal infrastructure.

MENAFATF’s evaluation focused on several key areas, including non-profit organizations, legal arrangements such as endowments, regulatory guidance, and oversight of high-risk sectors. These include legal, accounting, and real estate professions, as well as dealers in precious metals and stones.

The enhanced ratings follow Jordan’s formal request in November 2024 to re-evaluate four specific recommendations. Authorities submitted extensive data, legal amendments, and operational statistics to support the review, resulting in higher compliance scores.

Adel Sharkas, Chairman of the National Committee for Anti-Money Laundering and Counter-Terrorism Financing, said the results affirm the effectiveness of the country’s reforms. "This milestone underscores Jordan’s commitment to international standards and the success of its collaborative approach among regulatory bodies," he noted.

The newly released report is the final enhanced follow-up Jordan will undergo during the current round of MENAFATF’s mutual evaluation process. It is viewed as an international endorsement of the Kingdom’s efforts to build a resilient and effective system to prevent financial crimes and protect the integrity of its financial institutions. Petra