Latest news with #HamidAlZaabi
Al Etihad
6 days ago
- Business
- Al Etihad
UAE participates in Eurasian Group's Plenary Meeting on Anti-Money Laundering
2 June 2025 20:34 MOSCOW (WAM) The United Arab Emirates participated in the 42nd Plenary Meeting of the Eurasian Group on Combating Money Laundering (EAG) and its accompanying forum, which was co-organised by the Eurasian Group and the Middle East and North Africa Financial Action Task Force (MENAFATF) in Moscow, joint forum on regulation and risks marked the first-ever event to bring together two regional FATF-style bodies, reflecting the growing strategic partnership and international cooperation in addressing global risks associated with money laundering and terrorist financing. The forum focused on the theme 'Risk Management in the Era of Modern Technology,' with participation from over 200 high-level representatives from anti-money laundering and counter-terrorist financing authorities, regulatory bodies, financial intelligence units, the private sector, international organisations, and UAE delegation was led by Hamid Al Zaabi, Secretary-General and Vice Chairman of the UAE's National Anti-Money Laundering and Counter-Terrorist Financing and Financing of Illegal Organisations Committee, and Vice President of MENAFATF. He also participated in the main panel discussion titled 'Future Trends – Global Challenges and Digital Threats.'The UAE delegation, also attending as an observer to the Eurasian Group, showcased the latest developments in the country's efforts to combat money laundering and terrorist financing, including national initiatives leveraging artificial intelligence and digital innovation to strengthen the UAE's capabilities in tackling financial part of the visit, the UAE Embassy in Moscow hosted a 'Youth Circle' session, where Al Zaabi delivered an awareness presentation to Emirati youth and scholarship students. The session focused on sharing knowledge about the UAE's anti-money laundering and counter-terrorist financing framework while highlighting promising career opportunities in this vital sector, which is closely tied to financial system integrity and national security. The forum provided a high-level platform for dialogue on evolving regulatory approaches, public-private partnership strategies, and regulatory responses to technological change. It also contributed to enhancing cooperation between the Eurasian Middle East and North Africa regions in combating money laundering and terrorist financing.
The Print
27-04-2025
- Business
- The Print
UAE delegation concludes official visit to Morocco to strengthen cooperation in combating money laundering, terrorism financing
The visit, held from 22 to 24 April, was organised in cooperation with the National Financial Intelligence Authority of Morocco and aimed to reinforce strategic coordination between the two nations in the areas of anti-money laundering (AML), counter of terrorism financing (CFT), and counter of proliferation financing (CFP). Rabat [Morocco], April 27 (ANI/WAM): A delegation from the UAE's National Anti-Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC), led by Hamid AlZaabi, Secretary General and Vice-Chair of the National Committee, has concluded a three-day official visit to the Kingdom of Morocco. The programme featured a series of joint technical workshops, high-level meetings, and the exchange of best practices on key topics, including sanctions implementation, the use of artificial intelligence in AML/CFT efforts, national risk assessments, and the supervision of non-profit organisations. During the meetings, both sides emphasised the importance of bilateral cooperation as part of a broader vision to enhance regional and global financial security. They underscored the need for continued exchange of expertise and closer coordination to strengthen supervisory systems and align with international standards. Commenting on the visit, Hamid AlZaabi stated: 'This visit reflects the shared commitment of the United Arab Emirates and the Kingdom of Morocco to deepen their cooperation in confronting growing challenges in financial crime at both regional and international levels. Our collaboration is built on mutual trust, strategic vision, and a shared dedication to innovation and progress. Through technical exchange and constructive dialogue, we aim to foster a more resilient regional financial system that reinforces stability and integrity across the global financial landscape.' Jawhar Nfissi, President of the National Financial Intelligence Authority of Morocco, added: 'Morocco and the UAE are united by a common vision for regional and international security. This visit comes at a pivotal time, as we prepare for upcoming mutual evaluations and continue to develop and strengthen our national frameworks. The in-depth discussions and technical sessions held in Rabat demonstrate the maturity of our partnership and our shared ambition to set a model for the Middle East and North Africa region.' The sessions addressed a wide range of topics, including: Supervision and oversight of casinos and gaming institutions; Targeted financial sanctions and controls on the financing of weapons proliferation; National risk assessment methodologies and inter-agency coordination mechanisms; Utilization of artificial intelligence in AML/CFT frameworks; Supervision of non-profit organizations using risk-based approaches; The role of the private sector in advancing AML/CFT efforts. AlZaabi expressed his sincere appreciation to the President of the National Financial Intelligence Authority in the Kingdom of Morocco for the warm reception and the high level of professionalism that marked every engagement. The UAE reaffirmed its commitment to sustained cooperation aimed at building safer, more transparent, and sustainable financial systems across the region. (ANI/WAM) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Al Etihad
26-04-2025
- Business
- Al Etihad
UAE delegation concludes official visit to Morocco to strengthen cooperation in combating money laundering, terrorism financing
26 Apr 2025 19:45 RABAT (WAM)A delegation from the UAE's the National Anti-Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC), led by Hamid AlZaabi, Secretary General and Vice-Chair of the National Committee, has concluded a three-day official visit to the Kingdom of visit, held from April 22-24, was organised in cooperation with the National Financial Intelligence Authority of Morocco and aimed to reinforce strategic coordination between the two nations in the areas of anti-money laundering (AML), counter of terrorism financing (CFT), and counter of proliferation financing (CFP).The programme featured a series of joint technical workshops, high-level meetings, and the exchange of best practices on key topics, including sanctions implementation, the use of artificial intelligence in AML/CFT efforts, national risk assessments, and the supervision of non-profit the meetings, both sides emphasised the importance of bilateral cooperation as part of a broader vision to enhance regional and global financial security. They underscored the need for continued exchange of expertise and closer coordination to strengthen supervisory systems and align with international on the visit, Hamid AlZaabi stated:'This visit reflects the shared commitment of the United Arab Emirates and the Kingdom of Morocco to deepen their cooperation in confronting growing challenges in financial crime at both regional and international levels. Our collaboration is built on mutual trust, strategic vision, and a shared dedication to innovation and progress. Through technical exchange and constructive dialogue, we aim to foster a more resilient regional financial system that reinforces stability and integrity across the global financial landscape.'Dr. Jawhar Nfissi, President of the National Financial Intelligence Authority of Morocco, added: 'Morocco and the UAE are united by a common vision for regional and international security. This visit comes at a pivotal time, as we prepare for upcoming mutual evaluations and continue to develop and strengthen our national frameworks. The in-depth discussions and technical sessions held in Rabat demonstrate the maturity of our partnership and our shared ambition to set a model for the Middle East and North Africa region.'The sessions addressed a wide range of topics, including:- Supervision and oversight of casinos and gaming institutions;- Targeted financial sanctions and controls on the financing of weapons proliferation;- National risk assessment methodologies and inter-agency coordination mechanisms;- Utilization of artificial intelligence in AML/CFT frameworks;- Supervision of non-profit organizations using risk-based approaches;- The role of the private sector in advancing AML/CFT expressed his sincere appreciation to H.E the President of the National Financial Intelligence Authority in the Kingdom of Morocco for the warm reciption and the high level of professionalism that marked every engagement. The UAE reaffirmed its commitment to sustained cooperation aimed at building safer, more transparent, and sustainable financial systems across the region.
The National
16-02-2025
- Business
- The National
UAE anti-money laundering task force to meet EU to fight financial crime
The UAE is to hold high-level talks with the European Union in support of an international effort to tackle money laundering and other financial crimes. Hamid Al Zaabi, secretary general and vice chairman of the UAE National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee, said the country had already held discussions with the US and France on a global strategy to fight financial crime that covers drugs and fraud-related cases with strict prevention measures. He said international co-operation was vital and emphasised the UAE's commitment to be part of the drive for global financial and economic stability. Further meetings with the EU and other nations are planned to strengthen collaboration, state news agency Wam reported. 'Through comprehensive preventive measures the UAE continues to foster a stable and secure economic environment for all,' Mr Al Zaabi said. Anti-money laundering message Mr Al Zaabi said private sector and financial institutions were important partners in the UAE's clamp down on financial crime. More than 8,000 questionnaires have been submitted to the UAE's national anti-money laundering body by companies as part of a major risk-assessment strategy. As vice chair of the Middle East and North Africa Financial Action Task Force this year, he said the UAE plays a key role in hosting training workshops, offering technical support and sharing expertise with countries in the region. The UAE's efforts to work across the region to spread information would improve the readiness of neighbouring countries during evaluation and assessment by the task force. In September, the UAE introduced a nationwide action plan to combat terrorism financing and money laundering. 'This ongoing effort strengthens the country's ability to adapt to future financial challenges.' said Mr Al Zaabi. The 2024-2027 National Strategy for Anti-Money Laundering, Countering the Financing of Terrorism, and Proliferation Financing includes 11 primary objectives, 50 sub-goals and more than 250 initiatives aimed at achieving its targets by 2027. The project was developed by the General Secretariat of the National Committee, using World Bank Group methodology to ensure it meets international standards. "The strategy goes beyond legal aspects, encompassing economic, security and media dimensions, as well as capacity-building efforts." said Mr Al Zaabi. Taking action The Federal Supreme Court approved the extradition of French citizen Mehdi Charafa to France this month on charges of drug trafficking and money laundering. The decision came after a request from French authorities and after the defendant had exhausted all legal procedures, Wam reported. The UAE has made significant strides in the fight against financial crime. In August, the government amended its laws on anti-money laundering, and the financing of terrorism and illegal organisations. These changes aim to strengthen efforts against financial crime while ensuring the country's technical compliance with international treaties and recommendations. As a result, the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations was established.
TAG 91.1
15-02-2025
- Business
- TAG 91.1
UAE anti-money laundering committee receives 8k questionnaires
The submission of more than 8,000 questionnaires reflects the private sector's active engagement with risks related to money laundering and terrorist financing says a leading UAE figurehead. Secretary-General and Vice Chairman of the UAE National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) Hamid AlZaabi, said that private sector and financial institutions are considered key partners in delivering the UAE's AML/CFT programme and completing the National Risk Assessment (NRA) process. AlZaabi noted that the reports submitted by financial and non-financial institutions, as well as the private sector, witnessed a 26 per cent increase in the year 2024, reflecting the strengthening of collective understanding of these risks. He stated that the UAE's NRA led to significant legal amendments, including the 2024 update to the UAE's Anti-Money Laundering Law, to address evolving financial crime trends. AlZaabi also noted that virtual assets remain a high-risk category globally and that the UAE continues to enhance its financial sector's performance through deep and comprehensive risk understanding. 'This ongoing effort strengthens the country's ability to adapt to future financial challenges.' The previous NRA played a key role in advancing progress in 2024 in this regard, culminating in the launch of the National Strategy for Anti-Money Laundering, Countering the Financing of Terrorism and Proliferation Financing for 2024-27. The strategy outlines 11 primary objectives, 200 sub-goals, and over 1,000 initiatives aimed at achieving its targets by 2027, reinforcing the UAE's global leadership in this field, he added. AlZaabi reaffirmed the UAE's commitment to updating national regulations and policies to align with international best practices, ensuring readiness for the International Financial Action Task Force (FATF) mutual evaluation, which will start at the end of the year. He further highlighted that these efforts have led to continuous policy and legislative updates, helping maintain the stability of both the national and global financial systems. The UAE, he stressed, remains proactive in addressing emerging challenges and strengthening its position as a global leader in combating financial and economic crimes.
