Executive Office of AML/CTF strengthens cooperation with GCC’s General Secretariat to combat financial crimes

Executive Office of AML/CTF strengthens cooperation with GCC’s General Secretariat to combat financial crimes

ABU DHABI, 28th September 2021 The Executive Office of the Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) hosted a team from the General Secretariat of the Gulf Cooperation Council (GCC) for its prominent role in coordinating, planning and developing integrated programmes of joint action between the GCC countries.

The visit took place with the aim of exchanging experiences and strengthening cooperation in the face of financial crimes, most notably money laundering offences.

The UAE’s most significant achievements in combating money laundering and terrorist financing were also presented and the country’s future plans discussed.

Commenting on the visit, Hamid AlZaabi, Director-General said, “There is widespread cooperation between the Executive Office for Anti-Money Laundering and Counter Terrorism Financing and the General Secretariat of the Gulf Cooperation Council.

The Executive Office plays its role by improving local and international coordination and cooperation on issues related to addressing money laundering and terrorist financing to the fullest and seeks to share its experiences with the GCC Secretariat.

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Raghad Al Yousfi, Head of Anti-Money Laundering and Terrorist Financing/Money and Cash Management, Economic Affairs Sector of the GCC Secretariat, said: “We are pleased to congratulate the UAE on its tireless efforts to strengthen its anti-money laundering and counter terrorist financing system, and the efforts of its stakeholders, many of which were highlighted during our visit.

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Al-Yousfi stressed that the General Secretariat of the Gulf Cooperation Council (GCC) appreciates all the efforts of the United Arab Emirates in supporting the Secretariat through several principles, including the submission of a white paper in the field of anti-money laundering based on trade, and the preparation of a proposal to create and increase the awareness for residents in GCC countries.

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Raghad Al Yousfi expressed the Secretariat’s support and appreciation for the UAE’s efforts, saying: “We fully support the UAE’s efforts in enhancing the effectiveness of its anti-money laundering and counter terrorist financing system within the UAE and ask God almighty to make your efforts a success.

We look forward to continuing to work, support and strengthen our cooperation with you to achieve the best possible outcomes.

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