UAE Delegation Visits France To Enhance Cooperation In Combating Financial Crime
A delegation from the UAE, led by the General Secretariat of the National Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations Committee (NAMLCFTC), visited Paris. The visit aimed to boost cooperation with France in tackling financial crimes and enhancing economic security. This mission also introduced the UAE's National Strategy 2024–2027 for combating financial crimes, showcasing its dedication to international partnerships and expertise exchange.
Fahad Saeed Al Raqbani, UAE Ambassador to France, praised the strong bilateral ties between the two nations. He remarked, "This visit marks a significant milestone to enhance the strategic and enduring partnership between the UAE and France, rooted in close cooperation and our shared commitment to global economic security and the fight against international financial crime. Through strengthened collaboration and the exchange of expertise, we aim to advance international efforts to confront financial security challenges."
The discussions during this visit centred on enhancing partnerships with various French entities such as the Ministries of Treasury, Justice, Interior, and others. The focus was on addressing global organised crime, drug trafficking, and shared risks. The UAE delegation included representatives from key institutions like the Ministry of Interior, Federal Public Prosecution, Central Bank, Financial Intelligence Unit, and Dubai’s Center for Economic Security.
In recent months, both countries have bolstered their relations through formal agreements. In November 2024, UAE Minister of Justice Abdullah Sultan bin Awad Al Nuaimi met Jean-François Bohnert in Abu Dhabi to discuss legal cooperation. Earlier in February 2024, their Financial Intelligence Units signed an MoU to improve data exchange for combating financial crimes.
Hamid Saif AlZaabi highlighted the importance of international cooperation in fighting financial crime. He stated that France is a major trade partner for the UAE and vice versa. "This necessitates strengthening our partnership to address illicit global financial flows," he said. The visit underscores their commitment to fostering international collaboration and sharing expertise.
The UAE's proactive role in addressing financial crime globally was emphasised by Fahad Saeed Al Raqbani. He noted that the country is committed to implementing best practices in AML/CFT while ensuring economic growth. The UAE aims for a diversified economy supported by scientific advancements and foreign investment.
Future Collaboration Prospects
The delegation discussed comprehensive strategies adopted by the UAE for tackling financial crimes with French partners. They engaged in technical discussions on priority issues like organised crime and drug trafficking. The goal is to deepen sustainable cooperation between both countries to strengthen regional frameworks against illicit activities.
This visit highlights ongoing efforts by both nations to enhance their strategic partnership through collaboration on economic security challenges. By exchanging expertise and strengthening ties, they aim to tackle global financial threats effectively.
With inputs from WAM
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