Jordan shows major progress in anti-money laundering compliance

The Middle East and North Africa Financial Action Task Force (MENAFATF) has released its fifth enhanced follow-up report on Jordan, highlighting significant progress in aligning the Kingdom’s legislation and procedures with international standards on combating money laundering, terrorist financing, and the proliferation of weapons.

The progress is the result of coordinated efforts among relevant national entities, guided by the National Committee for Anti-Money Laundering and Counter-Terrorist Financing.

Dr. Adel Al-Sharkas, chairman of the National Committee, said the latest report raises the number of Financial Action Task Force (FATF) recommendations that Jordan is now compliant with from 19 in 2019 to 36 out of 40 core standards.

The report showcases national efforts across four key areas: regulating the work of non-profit organizations, legal arrangements such as endowments, providing guidance and feedback to entities under the law, and enhancing oversight of designated non-financial businesses and professions — including the legal, accounting, jewelry, and real estate sectors.

Jordan requested a re-evaluation of its compliance in November 2024. The new ratings were issued after an in-depth review of relevant legislation, data, and statistics.