UAE becomes first Arab country to get observer status on Asian-Pacific Money Laundering

UAE or United Arab Emirates is participating with observer status in the plenary of the Asia/Pacific Group on Money Laundering (APG), a Financial Action Task Force-Style regional body (FSRB), taking place this week in Vancouver, Canada. The UAE is the first Arab country to be granted observer status at the APG. The UAE has placed international cooperation at the heart of its strategy and plans for countering money laundering and the financing of terrorism. Observer status at FSRB events is granted to countries that demonstrate an active and collaborative approach to fighting financial crime, which the UAE has displayed through its participation in MENAFATF and other multilateral organisations.

The UAE delegation to the plenary is led by Hamid Al Zaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AML/CTF), and includes representatives from the UAE Financial Intelligence Unit (FIU) and other governmental authorities.

UAE’s AML/CFT Collaboration: Sharing Knowledge and Driving Innovation

The Asia/Pacific Group on Money Laundering is the largest FSRB globally and provides a truly unique forum for cross-border cooperation and information exchange. The UAE has invested considerably in its AML/CFT system in recent years, and we will be sharing knowledge and best practices with our partners from over 40 countries. We will also be listening and learning and looking to bring back new insights that can ensure we are at the cutting edge of anti-financial crime strategies and tactics. I look forward to a busy and productive plenary.

About the Financial Action Task Force-Style Regional Bodies (FSRBs)

Founded in 1997 and part of the global network of similar Financial Action Task Force-Style Regional Bodies (FSRBs), the Asia/Pacific Group on Money Laundering is the largest in terms of membership numbers and geographical size.

In addition to observer countries such as the UAE, the Asia/Pacific Group on Money Laundering plenary is also attended by key international organisations such as the International Monetary Fund, World Bank, OECD, United Nations Office on Drugs and Crime, the UN’s Counter Terrorism Executive Directorate, the Asian Development Bank, Commonwealth Secretariat, Interpol, and the Egmont Group of Financial Intelligence Units.

Important takeaways for all competitive exams: 

  • UAE Capital: Abu Dhabi;
  • UAE Currency: United Arab Emirates Dirham;
  • UAE Continent: Asia;
  • UAE Prime minister: Mohammed bin Rashid Al Maktoum.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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