The heads of UAE and Egypt’s anti-money laundering and counter terrorism financing and the UN’s representative for drugs and crime in the region discussed about the two countries efforts in cooperating with each other to deal with the situation.
UAE Director-General of the Executive Office for Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF) Hamid Al Zaabi, Egypt’s Chairman of the Board of Trustees of the Egyptian Money Laundering and Terrorist Financing Unit (AML/CTF) Ahmed Khalil and Judge Hatem Aly, Regional Representative of the United National Office on Drugs and Crime for the Gulf region discussed the issues.
The two sides reviewed the most prominent regional developments and coordination between them.
This included a presentation by the UAE’s side on key steps taken by the country in developing an effective system to combat financial crime and its partnership with the private sector.
The Egyptian side presented ways to advance the national system and about steps taken by the country to combat financial crimes.
Al Zaabi said,”The EO AML/CFT continues its efforts to inform international and regional partners on the latest developments in its national action plan and notable projects and initiatives that we are working on.”
He said the department is working in, “Cooperation with relevant UAE authorities to ensure a sustainable framework to combat money laundering and counter terrorism financing.”
He added, “Continuous communication with our partners is one of the priorities of our national agenda in the Executive Office. The successful extradition of key suspects demonstrates the UAE’s commitment to working with our international partners to pursue those who abuse the financial system.”
Al Zaabi said, “The UAE has achieved outstanding results through its strategic focus on asset recovery and rapid implementation of targeted financial sanctions.”
He added, “We work with Egypt on counter terrorism financing and we value effective coordination with our partners there.”
Khalil said that the visit of Al Zaabi and Dr Aly is part of efforts to strengthen UAE-Egypt strategic relations and is a model for all Arab nations.
Egypt and the UAE are pursuing a policy to establish peace and stability while combating terrorism and financial crime.
Hatem Aly said, “We welcome the fruitful partnership in recent years with the UAE’s national agencies, coordinated by the Executive Office for Anti-Money Laundering and Counter Terrorism Financing, in developing national efforts to investigate and detect illicit remittances and combat money laundering and the financing of terrorism nationally, regionally, and internationally alongside the relevant entities.”
He said, “The UAE is one of the economically and commercially pivotal countries in the region and the world.”
Aly said, “The visit of the Head of the Executive Office and a high-level delegation to Cairo aims to strengthen coordination and cooperation while developing future partnership with UNODC in combating and preventing organized crime on the national, regional, and international levels in accordance with UN standards.”