"Minavatv" Participates in the Fifth Ministerial Conference "No money for terrorism" In Paris
Paris, May 20 / WAM / The Middle East and North Africa Financial Action Task Force (MENAFATF), headed by His Excellency Hamid Saif Al Zaabi, Chairman of the group, participated in the work of the fifth Ministerial Conference, “No Money for Terrorism”, in the French capital, Paris, with the participation of ministers, officials and international experts concerned with combating money laundering, terrorist financing and organized crime.
The conference witnessed broad participation from MENAFATF member states, with 10 member states participating in the conference’s work, reflecting the level of interest and regional commitment to strengthening joint efforts to confront financial crimes and terrorist financing, and to support international cooperation in this field.
The conference addressed a number of main topics related to the risks of exploiting financial innovations and virtual assets to finance terrorism, in addition to the growing links between terrorist financing and organized crime, and ways to enhance international cooperation to confront cross-border financial threats.
On the sidelines of the conference, His Excellency the Chairman of the Group met with a number of ministers of the MENATF member states and participants in the conference, where they discussed developments in regional efforts to confront money laundering, terrorist financing, and financing of arms proliferation, in addition to discussing the importance of enhancing coordination and exchanging experiences between member states, which contributes to supporting the effectiveness of efforts in confronting risks and threats.
His Excellency Hamid Al Zaabi stressed that combating terrorist financing represents a fundamental pillar for protecting economic stability and the integrity of the financial system, noting that the rapid developments associated with financial technology and digital innovations require enhancing the level of international coordination and cooperation to confront cross-border threats.
His Excellency explained that MENATV continues to work with member states and international partners to enhance the effective application of international standards, support capacity building and raise the level of preparedness in the face of emerging risks and threats, thus contributing to enhancing security and stability at the regional and international levels.
The Ministerial Conference “No Money for Terrorism” is one of the most prominent international platforms concerned with confronting the financing of terrorism, as its first edition was launched in the French capital, Paris, in 2018, while France is hosting the fifth edition of the conference this year with the participation of more than 80 international delegations, which reflects the importance of strengthening joint international action to confront the financial threats associated with terrorism and organized crime.
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