"Minavatv" Participates in the spring meetings of the World Bank and the International Monetary Fund in Washington for the first time
WASHINGTON, April 14, 2017 (WAM) – The Middle East and North Africa Financial Action Task Force (MENAFATF), headed by His Excellency Hamid Saif Al Zaabi, Chairman of the group, is participating for the first time in the spring meetings of the World Bank Group and the International Monetary Fund, which began yesterday in the US capital, Washington, and will continue until April 18, within the framework of strengthening international coordination and exchanging experiences in the areas of integrity of financial systems and combating financial crimes.
His Excellency Hamid Saif Al Zaabi, President of MENAFATF, stressed that the group’s first participation in the Spring Meetings represents an important platform to enhance regional and international coordination, noting that the UAE’s presidency of the group focuses on supporting the readiness of member states for the next rounds of mutual assessments, in line with the Financial Action Task Force (FATF) methodology based on measuring effectiveness and achieving results.
He explained that MENAFATF works to enhance the exchange of experiences and best practices among member states, and to develop institutional capabilities, which contributes to raising the efficiency of systems for combating money laundering, combating the financing of terrorism, and financing the spread of arms, and translating international standards into practical and sustainable results.
His Excellency pointed out that the meetings constitute an opportunity to deepen international partnerships with financial institutions and exchange visions on the most prominent challenges related to the global economy, including financial stability and financial sustainability, stressing MENAFATF’s keenness to continue its role in supporting regional coordination and enhancing integration with international efforts.
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