UAE becomes 1st Arab Country to get Observer Status

Current Context: The UAE has become the first Arab country to get observer status at the Asia/Pacific Group on Money Laundering (APG), a regional body modeled on the Financial Action Task Force (FATF).

• The UAE will share its knowledge and best practices on anti-financial crime strategies and tactics at the APG plenary session, which is taking place this week in Vancouver, Canada.
• The UAE has also expressed its commitment to international cooperation in combating money laundering and terrorism financing.
• This achievement comes after the UAE was added to the FATF’s grey list in 2022 for having strategic deficiencies in countering money laundering and illicit financing.
• The UAE has since taken several measures to improve its compliance with the FATF’s recommendations.

Question:

Q.1 Which regional body did the UAE get observer status at?
a. Asia/Pacific Group on Money Laundering
b. Middle East and North Africa Financial Action Task Force
c. Asia Development Bank
d. Commonwealth Secretariat