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The UAE and Malta organised training workshops between 12-15 June to strengthen cooperation and combat AML/CFT.
AML/CFT training workshop organised by the UAE and Malta in collaboration with one another internationally cooperating from 12 to 15 June as part of the ministry’s efforts to facilitate UAE-Malta cooperation and experience exchange. The workshop was attended by representatives of the Ministry of Foreign Affairs, the National Anti-Money Laundering Committee, and the AML/CFT Executive Office, H.E. Maria Camilleri, the Ambassador of Malta to the United Arab Emirates, and Minister of Economy H.E. Abdullah bin Touq Al Marri. Further, representatives of the country’s regulatory and licensing authorities and commercial and financial free zones attended the workshop.
H.E. Bin Touq, in his opening speech, stated, “The UAE is keen to strengthen partnerships and exchange expertise and experiences with our global partners in various fields, especially economic ones, to achieve common development goals. The hosting of this workshop is an outcome of the second meeting with several officials of the Financial Services Authority and the Financial Intelligence and Counter-Terrorism Unit in Malta last April. It also reflects the shared desire of our two countries to enhance economic, commercial, and investment cooperation and implement AML/CFT best practices in line with the requirements of the Financial Action Task Force (FATF). These efforts will enhance the position of the two countries on the relevant global competitiveness indicators.”
As part of the training workshop, participants discussed the UAE’s efforts to combat money laundering crimes, the measures that have been implemented, and Malta’s anti-money laundering and anti-terrorism measures, which resulted in Malta being delisted from FATF’s enhanced supervision list. The UAE-Malta cooperation in this field should strengthen the knowledge and experience exchanged more efficiently, as well as develop a reliable system for monitoring all financial and non-financial transactions suspected of money laundering activity.
The two countries agreed that more collaborations, training, and delegation visits should be needed to improve cooperation and exchange experiences in combating financial crimes and AML/CFT. During its regular monitoring process for assessing compliance with the Federal Decree-Law. This regulation, as well as the executive regulations and related decisions, are intended to combat money laundering crimes, combat the financing of terrorism, and ensure that DNFBPs comply with International Standards issued by the FATF.