Arab Press

بالشعب و للشعب
Sunday, Mar 03, 2024

UAE, Egypt to boost cooperation in anti-money laundering, counterterrorism financing

UAE, Egypt to boost cooperation in anti-money laundering, counterterrorism financing

The Executive Office of Anti-Money Laundering and Counter Terrorism Financing in the UAE has signed a memorandum of understanding with the Egyptian Money Laundering and Terrorist Financing Combating Unit, the Emirates News Agency reported on Thursday.
The memorandum aims to expand collaboration between the UAE and Egypt, particularly in risk understanding and the exchange of knowledge, expertise, and practices in the fields of anti-money laundering and counterterrorism financing, to strengthen both countries’ responses to shared threats and risks.

The agreement also aims to raise awareness and improve domestic and regional understanding through training courses, workshops, seminars, and conferences.

Hamid Al Zaabi, director general at the UAE office, said: “The signing of the memorandum is yet another step in a long series of bilateral meetings and achievements that have undoubtedly strengthened national and regional efforts to counter illicit financial flows.

“I would like to thank our Egyptian partners for hosting a productive meeting and for sharing a valuable update on tactics, typologies, and the latest developments.

“The signing of the memorandum formalizes the exchange of knowledge, experience, and expertise in the areas of combating money laundering, the financing of terrorism, and financing the proliferation of weapons of mass destruction.

“By strengthening our cooperation in the fight against financial crime, we protect our national economies and international financial systems.”

Ahmed Khalil, the chairman of the Egyptian unit, said: “We have cooperated closely for the past five decades, a milestone that we celebrated last October on the occasion of the 50th anniversary of the establishment of Egypt-UAE relations.

“Ultimately, the bilateral partnership between our countries is based on the pursuit of shared interests.

“The memorandum will also play a role in encouraging the sharing of experiences through bilateral meetings and the exchange of best practices, including the establishment and amendment of laws, supervisory instructions, guidance mechanisms, and procedures to enhance the effectiveness of both parties in relation to combating money laundering and related predicate offenses, terrorism financing, and proliferation financing.”

Under the terms of the agreement, a committee of representatives from both parties was formed to coordinate the implementation of the memorandum.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
PM Modi Announces Opening Of New CBSE Office In Dubai
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Facebook and Instagram Ban Iran's Supreme Leader
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
The Saudi Kingdom's Ultimatum to Israel: A Win-Win Peace with Saudi Arabia and the Arab World, or a Lose-Lose Continued Occupation and Endless Conflict
Biden condemns anti-Arab hate after WSJ opinion piece calls Dearborn ‘jihad capital’
Turkey Releases Seven Hostages Captured by Pro-Gaza Gunman
Arab Parliament Commends Women's Contributions to Societal Development
British and Hungarian Foreign Ministers visited Lebanese leaders to stress the importance of enacting UN Resolution 1701
Yemen's Houthis Say They Targeted British Merchant Vessel In Red Sea
Donald Trump Nominated for Nobel Peace Prize for 'Historic' Middle East Policy
US lawmakers approve F-16 jet sale to Turkey following NATO expansion support
Saudi Arabia Climbs 25 Places in World Bank's National Statistics Indicator
Tourism Growth in Saudi Arabia Fuels Advancements in the Hospitality Industry," Says Rotana Official
Houthi Rebels Request Departure of UN Staff from Yemen, Including US and UK Personnel, within a Month
Modi Inaugurates Hindu Temple on Site of Demolished Mosque in India
Over 25,000 Deaths in Gaza Amid Israeli Offensive
Escalating Clashes in Gaza as Israel Distributes Leaflets to Assist in Locating Hostages
Turkey's First Astronaut Set to Launch for International Space Station Today
Head of Palestinian Investment Fund Warns More People May Die of Hunger Than War in Gaza
Palestinian Envoy Criticizes UK for Alleged 'Double Standards' in Policies Toward Israel
Morocco to Lead UN Human Rights Council in 2024
Is artificial intelligence the solution to cyber security threats?
Egypt has been identified as the leading military force among Arab nations and ranks 15th globally
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Iranian Nobel Laureate Narges Mohammadi Receives Additional Prison Sentence
"Gazans Urge Israeli Forces to Target Hamas in Leaked Audio"
Biden States US and UK Airstrikes on Houthis Were a 'Defensive Action
Large Pro-Palestine Rally in London as Gaza Conflict Hits Day 100
South Africa Urges World Court to Halt Israeli Actions in Gaza
×