MENA FCCG participates in US-MENA Private Sector Dialogue (PSD) 2025
Dr. Wissam Fattouh, UAB Secretary General and MENA FCCG Chair and Michael Matossian, Chief Compliance Officer Arab Bank and MENA FCCG Deputy Chair participated in the US-MENA PSD that took place at the offices of the Bank of New York (BNY) on October 10th, 2025. The conference, entitled “Advancing Financial Compliance in a Rapidly Evolving Global Landscape” represents the continued efforts of the U.S.-MENA PSD in cooperation with UAB. The Federal Reserve Bank of New York was a co-sponsor of this conference in participation of U.S. Department of the Treasury, International Monetary Fund (IMF), and United Nation Security Council. The conference focused on the changes in the regulatory and enforcement landscape, primarily with respect to more rigorous prudential requirements, AML/CFT scrutiny, as well as trade-based money laundering scenarios. It also explored how Artificial Intelligence is being used in the financial community to become more effective and efficient. Mr. Michael Matossian participated in a panel discussion on “Safeguarding Correspondent Banking Access: Rising Compliance Expectations and Emerging Challenges”. The session aimed to address key regulatory developments in the MENA region strengthening corporate governance, the significance of harnessing a relationship of trust with correspondent banks, avoiding de-risking, and mitigating the risks of money service providers and shadow banking.
