Wednesday 01 february 2023 - 6:48:23 am

UAE Proliferation Financing Task Force convenes first meeting


ABU DHABI, 25th January, 2023 (WAM) -- The UAE Proliferation Financing Task Force convened for the first time in Abu Dhabi, chaired by the Executive Office of Anti-Money Laundering and Countering the Financing of Terrorism (EO AML/CFT), with 18 federal and local entities including law enforcement and supervisory authorities in attendance.

The Proliferation Financing Task Force is part of an initiative to enhance the national compliance framework, with a particular focus on proliferation financing. The Task Force has five pillars focused on its strategic objectives: technical and national capacity building; enhanced proliferation financing coordination and cooperation; effective use of the FAWRI TICK system; expedited proliferation financing investigations; and the creation of typologies and case studies showcasing national efforts to combat proliferation financing.

Commenting on the meeting, Hamid Al Zaabi, Director-General of the EO AML/CFT, affirmed the UAE’s commitment to its comprehensive and sustained approach to combatting money laundering and terrorism financing.

He also stressed the importance of combating proliferation financing as part of the National AML/CFT Strategy and Plan.

During the first meeting, the task force reviewed and discussed its action plan based on best practices and priorities. The Proliferation Task Force will now meet on a quarterly basis.

Amjad Saleh/ Hazem Hussein