UAE & Morocco Strengthen Ties to Combat Money Laundering and Terrorism Financing

The UAE delegation, headed by Hamid Al-Zaabi (Secretary General and Vice-Chair of the National Committee), completed a three-day official visit to the Kingdom of Morocco from April 22 to 24.

The visit comprised high-level meetings, technical workshops, and sharing best practices on multiple aspects.

The official visit aimed to deepen strategic cooperation between the two nations in the areas of counter-proliferation financing (CFP), counter-terrorism financing (CFT), and anti-money laundering (AML).

The two countries exchanged ideas on the following themes:

• Use of AI in CFT/AML operations.
• Monitoring of nonprofit organizations’ conduct.
• Sanctions implementation
• National risk assessment

The visit was organized in collaboration with Morocco’s National Financial Intelligence Authority and the UAE’s National Anti-Money Laundering and Combating Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC).

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The discussions revolved around the following topics such as

1. What role can the private sector play in progressing AML/CFT endeavors?
2. How can artificial intelligence be employed in AML/CFT frameworks?
3. What risk-based approaches can be used to effectively supervise nonprofit organizations?
4. Inter-agency mechanism and national risk assessment methodologies.
5. Controls on financing weapons of mass destruction and managing targeted financial sanctions.
6. Effective oversight of gaming institutions and casinos.

The UAE’s three-day official visit reinforced the country’s commitment to long-term collaboration aimed at developing safer, more transparent, and sustainable financial systems throughout the MENA region.