The UAE participates in launching a network "Mina-iron" In Jeddah
Jeddah, 13 October / WAM / The UAE, represented by the National Committee to Combat Money Laundering and Combating the Financing of Terrorism and the Financing of Proliferation, participated in the first general meeting of the Asset Recovery Network in the Middle East and North Africa region “MENA-IRN”, which was held in the Saudi city of Jeddah on October 8 and 9, 2025.
The UAE delegation was headed by His Excellency Hamid Al Zaabi, Secretary-General and Vice-Chairman of the National Committee, with the participation of representatives from the Ministry of Justice, the Ministry of Interior, and the State Public Prosecutions.
The UAE delivered a speech in which it announced its priorities regarding the presidency of the MENA-IRN network for the year 2026.
The meeting marked the official launch of the MENA-IRN network, bringing together ministers and high-level officials from various countries in the region, during which a “Declaration of Intent” and a “Network Charter” were approved to frame cross-border cooperation in tracking, freezing and confiscating illicit assets. His Excellency Hamid Al Zaabi expressed the UAE’s thanks and appreciation to the Kingdom of Saudi Arabia for its efforts and hosting the permanent headquarters of the Asset Recovery Network Secretariat in the Middle East and North Africa region, stressing the continued development of the network’s work based on the success achieved with the launch of the network this year under the Kingdom’s presidency.
He stressed the UAE’s firm commitment to strengthening regional and international work in the field of asset recovery, pointing out that confronting illicit financial flows requires speed and effectiveness in tracking criminal proceeds.
He pointed out the importance of integrating asset recovery within the broader framework of combating money laundering and terrorist financing in the region, stressing that the MENA-IRN network will be a practical tool for exchanging information between practitioners, accelerating mutual legal assistance, and enhancing the region’s collective contribution to asset recovery efforts at the global level.
He explained that the UAE’s participation in Jeddah reflects the broader strategy of strengthening regional leadership, expanding bilateral and multilateral cooperation, and ensuring full alignment with the standards of the Financial Action Task Force (FATF).
The UAE continues to achieve tangible progress in this field. In 2024, it confiscated a value of 5.2 billion dirhams, more than double the amount confiscated in 2023, making it among the top three countries in the world in terms of the volume of confiscations as a percentage of financial crime estimates.
This achievement reflects the effectiveness of the legislative and regulatory reforms implemented since 2021 in the areas of financial investigations, beneficial ownership transparency, and international cooperation.
The state is also working to establish a specialized office to manage confiscated assets, ensuring their use for social purposes, and has nominated five liaison officers from national authorities to work as coordinators with the network.
The meeting concluded with the official launch of the MENA-IRON network and the adoption of a future work plan that includes holding specialized workshops on virtual assets and managing confiscated assets.
The UAE affirmed its full readiness to contribute effectively to the development of the network, share its national expertise, and enhance cooperation with partners to ensure the recovery and return of illicit assets in a way that benefits the peoples of the region and the world.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
