The UAE and Egypt are discussing joint cooperation to combat money laundering and terrorist financing

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Hamed Al Zaabi, Director General of the Executive Office to Combat Money Laundering and Terrorist Financing in the UAE, met with Counselor Ahmed Khalil, Chairman of the Board of Trustees of the Anti-Money Laundering and Terrorist Financing Unit in the Arab Republic of Egypt, and Judge Dr. Hatem Ali, Regional Representative of the United Nations Office on Drugs and Crime for the Gulf Cooperation Council countries. Gulf Cooperation Council, to discuss the efforts of the two countries and aspects of joint cooperation and coordination between them in confronting money laundering crimes and combating the financing of terrorism.

The two sides reviewed the most prominent developments at the level of the region in general and coordination between the two sides in particular, and this included a presentation by the Executive Office to Combat Money Laundering and Terrorist Financing on the most important steps taken in relation to the evaluation of the state and its experience in developing an effective system to confront financial crimes, and partnership with the private sector. In addition to a presentation by the work team of the Egyptian Anti-Money Laundering and Terrorist Financing Unit on ways to advance the national system and the most prominent steps that have been taken regarding the evaluation of the Arab Republic of Egypt.

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Al-Zaabi stated that the Executive Office for Combating Money Laundering and Terrorist Financing is continuing its efforts to inform international and regional partners of the latest developments in the national action plan, and the most prominent projects and initiatives that we are working on in cooperation with all concerned authorities in the country to ensure a sustainable framework to confront money laundering and combat the financing of terrorism.

He said: Continuous communication with our partners is one of the priorities of our national agenda and strategy in the Executive Office, and international cooperation and knowledge exchange are at the heart of the UAE’s efforts to combat financial crime, and the successful delivery of suspects shows the country’s commitment to working with our international partners to prosecute anyone who misuses the financial system, as it has achieved The UAE has achieved outstanding results through its strategic focus on asset recovery and rapid implementation of targeted financial sanctions.

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He added: We have a strong partnership with the sisterly Arab Republic of Egypt in the field of combating the financing of terrorism, and we value the effective coordination with our partners there.

For his part, Counselor Khalil stressed that the visit of Hamed Al Zaabi and Hatem Ali comes within the framework of strengthening the process of close Emirati-Egyptian relations, which is a model for what Arab relations should be due to the privacy and strategic partnership they enjoy. The two countries also follow a policy based on Establishing peace and stability, combating terrorism, and financial crimes.

In turn, Judge Dr. Hatem Ali said: We welcome the fruitful partnership that extended over the past years with the national authorities in the UAE in coordination with the Executive Office to Combat Money Laundering and Terrorist Financing in the field of developing national efforts to investigate and detect illegal financial transfers and combat money laundering and terrorist financing is not at the level Not only at the national level, but also at the regional and international levels, as the UAE is one of the economic and commercial pivotal countries in the region and the world.

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He added: The United Nations Office on Drugs and Crime for the Gulf Cooperation Council States supports the efforts of the Executive Office in communicating with all concerned authorities in the region to exchange experiences and expertise in the field of combating money laundering and terrorist financing, noting that the visit of the Head of the Executive Office and a high-level delegation to Cairo aims to enhance ways of combating money laundering and terrorist financing. Coordination, joint cooperation, and development of partnership within the framework of work programs with the United Nations Office on Drugs and Crime in combating and preventing organized crime at all national, regional and international levels, in accordance with the international standards and rules of the United Nations.

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