The UAE hosts a workshop for the European and Middle East Working Group of…"Ftf"

ABU DHABI, 9th January / WAM / The United Arab Emirates, through the General Secretariat of the National Committee to Combat Money Laundering and Combating the Financing of Terrorism and the Financing of Proliferation, hosted a workshop for the Joint Working Group for the Europe and Middle East region, affiliated with the Financial Action Task Force (FATF), which lasted five days and concluded today in Abu Dhabi.

According to a press release issued today, the workshop brought together international experts and representatives participating in the work of the Financial Action Task Force on International Cooperation Review (FATF ICRG), which is the team concerned with identifying countries that have strategic deficiencies in their systems to combat money laundering and combat the financing of terrorism.

Seven national delegations participated in the workshop and its meetings, where they received the necessary support for their time-bound action plans designed according to the needs of each country.

His Excellency Hamid Saif Al Zaabi, Secretary-General and Vice-Chairman of the National Committee and Chairman of the Middle East and North Africa Financial Action Task Force (MENAFATF), said that the Europe-Middle East and North Africa Group workshop provided an advanced technical platform compatible with the Immediate Results Framework of the FATF. In its capacity as Chairman of the MENAFATF, the UAE was keen to support a consistent, high-quality ICRG process that helps countries transform action plans into tangible and effective improvements based on strong political commitment and technical participation. Continuous.

The agenda was based on a systematic model for direct, in-person meetings that is in line with the immediate results methodology adopted within the “ICRG” process.

Discussions included assessing effectiveness across the entire AML/CFT system, including understanding risks at the national level and coordinating risk-based supervisory policies and preventive measures, collecting and analyzing financial information and its use by competent authorities, investigations and prosecutions of money laundering and terrorist financing crimes, freezing, seizing and confiscating assets, international cooperation, targeted financial sanctions, and the availability and accuracy of beneficial ownership information. Closed sessions were also held for the joint group to ensure consistency in technical provisions and review progress achieved against phases. Action plans, maintaining alignment with FATF standards and frameworks, with a clear focus on demonstrating practical effectiveness and not just formal compliance.

Hosting the workshop comes within the framework of the UAE Presidency’s program for MENAFATF, which focuses on enhancing the readiness of member states for the upcoming evaluation rounds, ensuring consistency in the application of the Financial Action Task Force standards, and enhancing coordination between regional and international mechanisms to confront money laundering and combat the financing of terrorism.

By bringing together experts from Europe and the Middle East and North Africa region, the UAE has contributed to consolidating cooperation across regions and supporting the integrity of the global financial system.

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