UAE and Morocco Forge Stronger Anti-Financial Crime Alliance

Hamid AlZaabi, Director General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF), hosted a Moroccan national delegation led by Dr. Jawhar Al Nafisi, Chairman of the Moroccan National Financial Intelligence Authority, to discuss ongoing bilateral coordination and expertise exchange initiatives.

Hamid AlZaabi emphasized the strong UAE-Morocco cooperation in enhancing compliance standards in the MENA region. He highlighted joint efforts in combating financial crime through bilateral collaboration and MENAFATF, resulting in a comprehensive framework and impactful initiatives. Sharing expertise aims to mutually safeguard the regional financial system.

Dr. Jawhar Al Nafisi, Chairman of the Moroccan National Financial Intelligence Authority, highlighted the deep strategic relations between Morocco and the UAE, focusing on aligning strategies to combat money laundering and terrorism financing.

During a two-day meeting, parties discussed ongoing bilateral cooperation. They agreed to establish joint committees for monitoring standards, technical development, and supervision to ensure goal attainment. Topics included the National Strategy, virtual assets, and AI's role in combating money laundering and terrorism financing. They reached agreements on areas for further cooperation to implement terms of the Memorandum of Understanding between the EO AML/CTF and the Moroccan National Financial Intelligence Authority.

The second day of the visit agenda featured a presentation by the UAE Executive Office for Control and Non-Proliferation (EOCN) discussing collaboration potentials. It concluded with a final presentation by the Dubai International Financial Centre (DIFC) which discussed the UAE experience analysing cases related to virtual assets.

News Source: Emirates News Agency