Cambridge: Hamid Saif Al Zaabi, President of the Middle East and North Africa Financial Action Task Force (MENAFATF), participated in the 43rd Cambridge International Symposium on Economic Crime, held from 23rd to 30th August. The event focused on 'Asset Recovery and the Rule of Law: Taking the Profit Out of Crime - From Rhetoric to Results.'
According to Emirates News Agency, Al Zaabi's participation is part of MENAFATF's ongoing efforts to bolster international partnerships and cooperation with organizations engaged in combating money laundering, terrorist financing, and proliferation financing. His involvement also included delivering a keynote address, emphasizing MENAFATF's commitment to supporting member countries and enhancing regional and international collaboration against financial crime.
Al Zaabi highlighted the significance of international partnerships, particularly due to the fast-evolving and cross-border nature of financial crime. He noted that collaboration with global partners facilitates the exchange of expertise, capacity building, and the effective implementation of Financial Action Task Force (FATF) Standards across the region.
He stated, 'MENAFATF is committed to strengthening its presence at leading events focused on combating money laundering and terrorist financing, and to building practical partnerships that facilitate the exchange of knowledge and expertise. These partnerships support the development of more efficient and effective responses to shared risks and contribute to safeguarding the integrity and stability of financial systems.'
Al Zaabi underscored the importance of the Cambridge International Symposium on Economic Crime as a platform for policymakers, law enforcement agencies, supervisory authorities, compliance experts, financial sector representatives, and academics to develop a shared understanding of current challenges and translate international discussions into practical solutions.
On the sidelines of the symposium, Al Zaabi met with Giles Thomson, President of FATF, to discuss strengthening cooperation and coordination between FATF and MENAFATF. They focused on supporting shared priorities and enhancing the effectiveness of regional and international efforts to combat financial crime.
During the meeting, Al Zaabi reiterated MENAFATF's support for the United Kingdom's FATF Presidency priorities for 2026-2028. These priorities aim to enhance the international response to fraud and its associated risks, advance the risk-based approach and risk-based supervision, improve information sharing, and strengthen public-private partnerships. He emphasized that these align with regional needs and support efforts to build more efficient systems responsive to evolving risks.
Al Zaabi also engaged in bilateral meetings with other symposium participants to discuss cooperation, coordination, and the exchange of expertise on emerging risks. These discussions focused on initiatives to improve the effectiveness of anti-money laundering and counter-terrorist financing systems both regionally and internationally.
The Cambridge International Symposium on Economic Crime, first held in 1982 and organized under the auspices of the Centre for Geopolitics at the University of Cambridge, serves as a non-profit international platform promoting understanding and practical cooperation in preventing economic crime. The symposium attracts approximately 2,000 participants from over 100 countries, featuring over 120 sessions and workshops addressing key challenges to the integrity of systems, institutions, and economies.