The latest developments in the UAE’s fight against financial crime are set to be discussed at the 14th Mena Regulatory Summit in Abu Dhabi.
The event, which takes place on Tuesday at the Four Seasons Hotel, is being hosted by the Executive Office of Anti-Money Laundering and Counter Terrorism Financing, in partnership with Refinitiv.
It caters to professionals working in compliance, risk, regulation and financial services, as well as their counterparts in government and law enforcement.
As many as 450 delegates will attend, with large numbers coming from the UAE, Egypt, Saudi Arabia, the UK and Bahrain, the organisers said on Monday.
Panel sessions will feature leading figures from international organisations on the front line of the fight against financial crime, including John Cusack, chairman of the Global Coalition to Fight Financial Crime, Suliman Al-Jabrin, Mena Financial Action Task Force (FATF) executive secretary, and Takahide Habuchi of the Japan Financial Service and FATF Policy Working Group.
"International co-operation is crucially important in our efforts to fight financial crime, and the UAE has continued to make substantial progress in this regard through the signing of new joint training and research initiatives and the sharing of knowledge, such as typologies specific to the region," said Hamid Al Zaabi, director general of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing.
"We look forward to sharing our experience and building new relationships at the summit. Delegates from the UAE and across the region can look forward to a strong and topical agenda."
The UAE has seized and confiscated assets worth more than Dh4.73 billion ($1.29bn) in the 12 months to the end of July as it steps up its fight against money laundering and the financing of terrorism.
Assets worth Dh2.54bn were seized by authorities while assets worth Dh2.19bn were confiscated in the one-year period, Mr Al Zaabi told The National in an interview earlier this month.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
The biog
Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza
Hobby: Running and watching Welsh rugby
Travel destination: Cyprus in the summer
Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.
The specs: 2018 Nissan 370Z Nismo
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Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
SCHEDULE
Saturday, April 20: 11am to 7pm - Abu Dhabi World Jiu-Jitsu Festival and Para jiu-jitsu.
Sunday, April 21: 11am to 6pm - Abu Dhabi World Youth (female) Jiu-Jitsu Championship.
Monday, April 22: 11am to 6pm - Abu Dhabi World Youth (male) Jiu-Jitsu Championship.
Tuesday, April 23: 11am-6pm Abu Dhabi World Masters Jiu-Jitsu Championship.
Wednesday, April 24: 11am-6pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Thursday, April 25: 11am-5pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Friday, April 26: 3pm to 6pm Finals of the Abu Dhabi World Professional Jiu-Jitsu Championship.
Saturday, April 27: 4pm and 8pm awards ceremony.
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Tom Fletcher on 'soft power'
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
More from Neighbourhood Watch:
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
