The Banking Executive Magazine - December 2025 Issue

PSD 2025 On October 10, 2025, the Union of Arab Banks (UAB) convened the 12th edition of the U.S.–MENA Pri- vate Sector Dialogue (PSD) at the headquarters of the Bank of New York (BNY) in New York City, USA. This high-level forum was organized in cooperation with the Federal Re- serve Bank of New York (FRBNY) and with the participation of the In- ternational Monetary Fund (IMF), the United Nations Security Council, and the U.S. Department of the Treasury. The event brought together a distinguished group of senior offi- cials, regulatory authorities, and banking leaders from both the United States and the Arab region. Held under the theme “Advancing Financial Compliance in a Rapidly Evolving Global Landscape,” the 2025 edition of the U.S.–MENA Pri- vate Sector Dialogue convened at a time of profound regulatory and technological transformation. Finan- cial institutions worldwide are con- tending with heightened prudential standards, intensified AML/CFT scrutiny, and the emergence of so- phisticated threats such as trade- based money laundering and cyber-enabled financial crime. Con- currently, technological disruption— particularly the growing use of artificial intelligence in compli- ance—has reshaped how risks are identified and managed. These de- velopments have compounded long- standing structural pressures, includ- ing the fragility of correspondent banking relationships and the chal- lenges of integrating digital assets into regulated financial systems. In this context, the Dialogue served as a timely platform for fostering tran- sregional cooperation, enabling U.S. and MENA stakeholders to confront shared compliance challenges and safeguard cross-border financial in- tegrity. Since its inception in 2006, the PSD has aimed to build trust, deepen regulatory engagement, and promote collaborative solutions—a mission the 2025 conference reaf- firmed with clarity and purpose. the BANKING EXECUTIVE 28 ISSUE 204 DECEMBER 2025 US-MENA PRIVATE SECTOR DIALOGUE (PSD) 2025: ADVANCING FINANCIAL COMPLIANCE IN A RAPIDLY EVOLVING GLOBAL LANDSCAPE