Recognizing the threat posed by Money Laundering and Terrorist Financing to countries in the Middle East and North Africa Region ("MENA Region”),

Considering that this threat can only be effectively tackled by co‑operation between countries within the MENA Region,

Recalling measures taken by the United Nations with regard to countering ML/TF,

Recognizing the Financial Action Task Force ("FATF") 40 Recommendations on AML and the Special 9 Recommendations on CFT as the worldwide-accepted international standards for AML/CFT;

Determining that the countries in the MENA Region should work together to comply with these standards and those measuresto enhance the fight against ML/TF in the region through the creation of an effective system which countries need to implement according to their particular cultural values, constitutional frameworks and legal systems