UAE becomes 1st Arab Country to get Observer Status

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

Free Exam Resources

Useful material to support your preparation, revision and exam planning.

Continue on BankExamsToday

Revise notes, practice questions and resume anytime.

Meet your mentor

From the Founder

Ramandeep Singh, founder of BankExamsToday

Ramandeep Singh

Banking Educator · Former Banker

Former banker and educator helping aspirants prepare for banking promotion and specialist officer exams with focused, practical guidance.

14+
Years' experience
5,000+
Selections
Ex-BoB
Banking experience