Bishkek [Kyrgyzstan], May 31 (ANI/WAM): The United Arab Emirates participated in the 40th Plenary Session of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), a FATF-Style Regional Body, in Bishkek, Kyrgyzstan.

During the five-day plenary, which concludes today, Hamid AlZaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AML/CTF), who headed the UAE delegation, said that the country's participation in the EAG Plenary demonstrates its commitment to international cooperation as a reliable partner in the global fight against crime.

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AlZaabi explained, "The Eurasia Group and other FATF-Style Regional Bodies (FSRBs) play a crucial role in the global financial system by enhancing international cooperation and facilitating the exchange of expertise. Financial crime is a global challenge requiring a global response, and the UAE is committed to effective cooperation with all our partners."

He noted that by participating in these bodies, sharing typologies on critical issues like money laundering and the financing of terrorism, and supporting initiatives such as the EAG donors and Technical Assistance programme for Turkmenistan, collective efforts can more effectively combat financial crimes.

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AlZaabi also provided a detailed briefing to delegates on the UAE's latest developments in its fight against financial crime, emphasising the state's continued commitment to developing its national system.

He also presented a review of the most significant developments, such as the National Risk Assessment carried out by the EO AML/CTF in partnership with various federal and local authorities and the draft National Strategy for combating money laundering, terrorist financing, and the financing of proliferation for the period 2024-27. (ANI/WAM)

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