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UAE becomes 1st Arab Country to get Observer Status

Published on July 22, 2023
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).
UAE becomes 1st Arab Country to get Observer Status
  • 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
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