Discussing strengthening UAE-US cooperation in combating financial crimes

Washington, December 13 / WAM / A high-level delegation from the UAE, headed by the General Secretariat of the National Committee to Combat Money Laundering and Combating the Financing of Terrorism and the Financing of Illegal Organizations, discussed during a working mission in the United States of America that concluded yesterday and lasted for four days, with a number of strategic partners in Washington, D.C., ways to enhance Emirati-American cooperation and partnership in confronting financial crimes and maintaining global financial security.

The delegation included, in addition to the General Secretariat of the National Committee, representatives from a number of government agencies that included the Ministries of Foreign Affairs, Interior, Justice, the Executive Office for Control and Non-Proliferation, and other professional bodies.

The meeting took place with senior officials from US agencies, including the Departments of Treasury, Justice, and State, the Criminal Investigation Unit of the Internal Revenue Service (IRS-CI), the Financial Crimes Enforcement Network (FinCEN), and the Federal Bureau of Investigation. During the mission, the delegation also met With the World Bank Group and the International Monetary Fund.
His Excellency Hamid Saif Al Zaabi, Secretary-General and Vice-Chairman of the National Committee to Combat Money Laundering and Combating the Financing of Terrorism and the Financing of Illicit Organizations, stressed the importance of the Emirati-American partnership in enhancing global economic and financial security.
He said that the United Arab Emirates and the United States of America enjoy a strong strategic partnership, based on shared values ​​in combating financial crimes and enhancing economic security, noting that the topics of the discussions focused on enhancing mutual technical cooperation, developing international partnerships, and strengthening regulatory frameworks to confront illicit financial flows. Complex.
He explained that these efforts aim to effectively protect individuals and organizations, as well as strengthen economic ties and other vital areas between the two countries.
He stressed continuing to work side by side with international partners to maintain the stability of global financial systems and strengthen them in accordance with international best practices.
Since 2009, the UAE has been considered the largest market for American exports in the Middle East and North Africa region, with the volume of bilateral trade between them reaching $31.4 billion in 2023 alone.
The UAE delegation’s agenda included a review of existing bilateral operational initiatives, and ways to enhance them, especially on priority issues such as cross-border asset recovery efforts, risks of virtual assets and associated investigations, partnership with the private sector, and strengthening regulatory coordination to ensure greater effectiveness in confronting global financial challenges.
In the context of a deep awareness of the role of the private sector and research centers, the agenda included holding a round table dialogue session organized by the Emirati-American Business Council in cooperation with the UAE Embassy in Washington, which presented to participants from the private sector in the United States of America presentations on the UAE’s national strategy and its plan of action in Confronting financial crimes, and a number of priority strategic projects, and the role of these measures in promoting safe and sustainable trade and investment environments, which enhances confidence between trading partners and supports joint economic growth.
The delegation also participated in the meeting of the Joint Working Group to Combat Money Laundering and Terrorist Financing, which was organized by the Ministry of Foreign Affairs yesterday in cooperation with the US Department of the Treasury, during which a number of developments were reviewed and discussed at the level of all work streams emanating from the joint team.

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