UAE Delegation Concludes Visit To Morocco To Enhance Cooperation Against Financial Crime

The UAE's National Anti-Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC), led by Hamid AlZaabi, recently completed a three-day visit to Morocco. Held from 22 to 24 April, the visit aimed to enhance strategic coordination between the two nations in anti-money laundering (AML), counter-terrorism financing (CFT), and counter-proliferation financing (CFP).

During this visit, both countries engaged in joint technical workshops and high-level meetings. They exchanged best practices on crucial topics such as sanctions implementation, artificial intelligence in AML/CFT efforts, national risk assessments, and supervision of non-profit organisations. These discussions highlighted the importance of bilateral cooperation for enhancing regional and global financial security.

Hamid AlZaabi commented on the visit: "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 Morocco's National Financial Intelligence Authority, remarked: "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 covered various topics including supervision of casinos, targeted financial sanctions, controls on weapons proliferation financing, national risk assessment methodologies, inter-agency coordination mechanisms, AI use in AML/CFT frameworks, supervision of non-profit organisations using risk-based approaches, and private sector roles in advancing AML/CFT efforts.

Both sides stressed continued expertise exchange and closer coordination to strengthen supervisory systems aligning with international standards. This collaboration aims at building safer financial systems across the region.

AlZaabi expressed gratitude towards H.E., President of Morocco's National Financial Intelligence Authority for their warm reception. He appreciated their professionalism throughout every engagement during this visit.

With inputs from WAM