DUBAI, 23rd May, 2023 (WAM) — In collaboration with the Royal United Services Institute (RUSI), the Executive Office for Control and Non-Proliferation hosted a forum involving various experts to address the issue of proliferation financing.
More than 3,700 participants, via video conferencing, joined the forum, which hosted delegates from Gulf Cooperation Council (GCC) countries, including Egypt and Jordan, as well as from Morocco, Mauritania and Serbia, along with representatives of the Middle East and North Africa Financial Action Task Force (MENAFATF), federal and local regulators, and the private sector.
The forum highlighted the need for a strong system to combat financial crimes, especially those related to terrorism and proliferation, and to improve the skills of the staff of relevant authorities, such as investigation and monitoring agencies and financial information units, in understanding how proliferation is financed, how sanctions are evaded and detected, and how its risks are assessed.
In his opening speech, Talal Al Tunaiji, Director of the Executive Office for Control and Non-Proliferation, said that the UAE is committed to creating a system for combatting financial crimes, especially those related to terrorism financing and proliferation, adding that the office and other national authorities are working together to implement annual plans for training staff in relevant areas.
The forum focussed on how to prevent the financing of weapons of mass destruction, and experts and participants shared their views on how the private sector can follow United Nations (UN) resolutions and international standards on this issue.
They also talked about how to check the identity of their clients, establish internal controls to spot suspicious transactions and communicate effectively with the public sector.
The UAE also showcased its efforts to apply financial sanctions and regulate dual-use items.