The United Arab Emirates hosted a workshop for the Europe and Middle East Working Group of the Financial Action Task Force (FATF), aimed at enhancing international cooperation to combat money laundering and terrorist financing. During this five-day event, which recently concluded in Abu Dhabi, experts and international representatives engaged in discussions to improve their countries’ strategies in this vital area. The workshop highlighted the importance of joint efforts and collaboration in addressing global challenges related to illicit financing.
Workshop Details and Impact
The UAE, through the General Secretariat of the National Committee for Combating Money Laundering and Terrorist Financing and the Financing of the Proliferation of Weapons of Mass Destruction, hosted the workshop for the joint working group for the Europe and Middle East region under the FATF. The event lasted five days and attracted a range of experts and international representatives participating in the Financial Action Task Force’s International Cooperation Review Group (FATF ICRG). This group is responsible for identifying countries that are struggling with their strategies to combat money laundering and terrorist financing.
Country Participation and Expected Outcomes
During the workshop, seven national delegations participated, each receiving the necessary support to develop time-bound action plans tailored to their specific needs. This reflects the UAE’s commitment to assisting other countries in enhancing their financial systems.
Official Statements
Hamed Saif Al Zaabi, Secretary-General, Deputy Chairman of the National Committee, and Chairman of the FATF for the Middle East and North Africa (MENAFATF), stated: “The Europe-Middle East-North Africa Workshop has produced an advanced technical platform that aligns with the immediate outcomes framework of the Financial Action Task Force.” Al Zaabi emphasized that the UAE is keen to support the ICRG process in a consistent and high-quality manner, enabling countries to translate action plans into tangible and effective improvements based on strong political commitment and ongoing technical engagement.