Today's Edition
RIYADH (WAM)
The national delegation of the United Arab Emirates headed by Hamed Saif Al Zaabi, Secretary General and Vice Chair of the UAE National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC), participated in the 39th Plenary Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF).
The meeting took place in Riyadh, Saudi Arabia, from November 20-21, 2024.
The Plenary was attended by member states, experts in the fields of combating money laundering, financing of terrorism, and financing of proliferation, as well as observers from countries, regional, and international organizations. Notably, Ms. Elisa De Anda Madrazo, President of the Financial Action Task Force (FATF), also took part in deliberations. During the meeting, various topics related to the regional group's activities and areas of work were discussed, and important decisions were made, including the UAE’s appointment as Vice Chair of the group for 2025.
The nomination of Hamed Saif Al Zaabi, Secretary General and Vice Chair of NAMLCFTC, was adopted with the endorsement of the FATF President. Additionally, the joint priorities for the presidency between the Hashemite Kingdom of Jordan and the UAE were ratified, focusing on various areas to continue supporting and achieving the group’s objectives and following the approach of preceding presidents. These priorities include enhancing cooperation and communication, as well as improving coordination with international and regional partners and counterpart groups, in alignment with MENAFATF's strategic and regional action plans.
The UAE delegation actively participated in the working sessions and activities surrounding the general meeting. During these sessions, the national delegation delivered a presentation to the Risk Committee on the impact of cybercrime and the role of law enforcement authorities in addressing these challenges. The delegation also presented on the misuse of virtual assets in financing terrorism.
Additionally, they took part in a working session on the regulation of virtual assets, as part of the regional conference on combating money laundering and terrorist financing, held on November 19, 2024, in celebration of the 20th anniversary of the establishment of the Financial Action Task Force for the Middle East and North Africa.
As a proactive member of MENAFATF, the UAE remains committed to reinforcing its position as a global hub for secure and transparent financial operations. The country’s participation in the plenary reflects its strategic focus on international cooperation, in alignment with the Mexican Presidency of FATF priority to increase the voice of FATF-Style Regional Bodes (FSRBs).
