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Mutual Evaluation

Mutual Evaluation

The mutual evaluation process in the field of combating money laundering and the financing of terrorism aims to assess the extent of the country’s compliance to the (40) recommendations and the effectiveness of the systems for combating money laundering and the financing of terrorism and proliferation. The procedures of this process are characterized by transparency and equal treatment among all member countries being assessed, and the preparation of objective and accurate reports on time and of a high quality. It is also characterized in identifying and developing best practices and effectiveness, and drawing the attention of governments and the private sector to any areas they have that need to be strengthened in this area.                                                                                  

The scope of the mutual evaluation process includes two basic elements: technical compliance, whereby the procedures taken to meet the requirements of the standards are assessed for each of the 40 recommendations issued by the Financial Action Task Force (FATF) approved in 2012, as well as their interpretive notes, and the assessment of the effectiveness of the country's anti-money laundering and terrorist financing system based on the (11) immediate outcomes outlined in the assessment of effectiveness in the methodology of assessing technical compliance with the FATF recommendations and the effectiveness of anti-money laundering and counter-terrorism financing systems issued by the FATF and approved in 2013, taking into account any additional amendments to the standards and methodology that made during implementation of the second round of the mutual evaluation process. Through technical compliance, an assessment is made of whether the laws, legislative systems, instructions and controls for combating money laundering and terrorist financing are in effect and are being implemented. Also, evaluate whether the institutional framework that supports the anti-money laundering and counter-terrorism financing system and the extent to which the country under assessment has achieved the desired results in the methodology.

In accordance with the procedures of the second round of the Middle East and North Africa Financial Action Task Force (MENAFATF)’s mutual evaluation and follow-up process, the Hashemite Kingdom of Jordan underwent a mutual evaluation process by the MENAFATF with the aim of determining the level of compliance with the (40) recommendations issued by the FATF and the level of effectiveness of the anti-money laundering and counter terrorist financing system in the Kingdom. The on-site visit to the Kingdom was conducted by the assessment team during the period from 8 to 23 July/2018, and the mutual evaluation report for the Kingdom was discussed and approved at the 29th plenary meeting of the MENAFATF in November of 2019. 

The Kingdom has substantially completed the implementation of its action plan items approved by the FATF in October 2021, after the end of the comprehensive mutual evaluation process of the AML/CTF system and the publication of the report at the end of 2019, as the Kingdom underwent monitoring procedures by the International Cooperation Review Group (ICRG). The Kingdom submitted accurate and effective follow-up reports, which led to the announcement of removing Jordan from the International FATF's list of countries under increased monitoring in the field of combating money laundering and financing of terrorism, ahead of the specified date, where the FATF took this decision at its plenary meeting held during the period from 23-27 October 2023 in Paris. 

The Kingdom submitted periodic follow-up reports to the MENAFATF within a specific time frame to shed light on the progress achieved, including the corrective measures taken to address the remaining deficiencies according to the mutual evaluation report. 

The Kingdom also submitted to the MENAFATF a request that included a rating of the ratings of compliance of legislations related to combating money laundering and financing of terrorism with the international agreements and standards, pursuant to the request, (14) of the twenty-one recommendations were reconsidered, for which the Kingdom had received a low rating out of (40) international recommendations and standards, It is also worth noting that many regulatory procedures and decisions have been issued by regulatory and supervisory authorities, which were provided as reinforcements to raise the ratings of compliance with relevant international recommendations, where the MENAFATF's 34th plenary meeting, which was held in May 2022, decided to raise the levels of compliance to these recommendations to “Compliant and Largely Compliant” bringing the total number of recommendations in which the Kingdom had obtained a degree of “ Compliant and Largely Compliant” to (32) recommendations out of (40) Recommendation.

Noting that the Hashemite Kingdom of Jordan is a founding member of the MENAFATF since 2004, and the Kingdom of Jordan assumed the presidency of the group in 2007.

Mutual Evaluation and Follow-up Reports:


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