The UAE Executive Office for Anti-Money Laundering and Counter-Terrorism Financing (EO AML/CTF) and the Egyptian Money Laundering and Terrorist Financing Unit (Egyptian AML/CTF), as well as the United National Office on Drugs and Crime (UNODC), have discussed the UAE and Egypt’s efforts and coordination in combating AML/CFT.
UAE and Egypt reviewed the most prominent regional developments and coordination between them. This included a presentation by the Office for AML/CTF on key steps taken by the UAE in developing an effective system to combat financial crime and its partnership with the private sector.
In addition, the Egyptian AML/CTF Unit presented ways to advance the national system and significant steps taken by the Arab Republic of Egypt.
Hamid Al Zaabi Director-General Executive Office AML/CTF
“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 in cooperation with relevant UAE authorities to ensure a sustainable framework to combat money laundering and counter-terrorism financing. International cooperation and knowledge exchange are at the core of the UAE’s efforts to fight financial crime. 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. The UAE has achieved outstanding results through its strategic focus on asset recovery and rapid implementation of targeted financial sanctions.”
Mr. Ahmed Khalil, Chairman of the Board of Trustees of Egyptian AML/CFT, stated that the discussion with Mr. Al Zaabi and Dr. Hatem Aly, Regional Representative of the UNODC for the Gulf region, is part of efforts to strengthen UAE-Egyptian 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, Mr. Khalil also added.
Mr. Hatem Aly said that “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. The UAE is one of the economically and commercially pivotal countries in the region and the world.”
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