Egypt signs 1st Middle East declaration of intent to combat money laundering

CAIRO- 27 March 2023: Egypt signed the declaration of intent in the field of combating money laundering and terrorist financing, on Monday, in cooperation with the United Nations Office on Drugs and Crime (UNODC), and a number of Arab countries.

The signing ceremony was hosted by the Egyptian Cabinet, with the participation of the UAE Executive Office of Anti-Money Laundering and Counter-Terrorism Financing, the UAE Financial Intelligence Unit, the Saudi Arabia Financial Investigation Unit (SAFIU), and Bahraini Combatting Terrorism and its Financing.

All parties agreed to prepare a declaration of intent for a partnership aimed mainly at developing capabilities and encouraging the exchange of knowledge, experiences, and expertise to effectively combat money laundering and terrorist financing.

The declaration is the first of its kind in the Middle East region in terms of its objective, as well as in terms of the number of participating entities and the countries