Yesterday, Abu Dhabi Media Office released information that Major Saad Ahmed Al Marzooqi has been chosen as the first Emirati to join FATF’s International Co-operation Review Team. This appointment was made known through a statement from the office.
It may be important to note that FATF is an intergovernmental organization founded in 1989 and tasked with promoting the anti-money laundering (AML) and countering financing of terrorism (CFT) agenda globally. Maj Al Marzooqi will help countries deal with any defects connected with their financial crime prevention policies. A trip to Africa is on his schedule where he will participate in the evaluation of action plan for a given country.
While expressing his pride at being part of it, Maj Al Marzooqi pointed out how UAE is continuously fighting different types of financial crimes. His selection further confirms that UAE has taken adequate measures against money laundering and terrorist financing.
In February, after investing on significant reforms, UAE was removed from the FATF “grey list.” It had confirmed through its review, which showed the country’s commitment to improve its financial supervisory framework; this move occurred because otherwise, it would not have earned a spot on such list since 2022.
Sheikh Abdullah bin Zayed as Chairperson of Higher Committee Overseeing National Strategy for Anti-Money Laundering and Combatting Financing Terrorism
