Arab monetary officials will meet in Abu Dhabi early next month to discuss co-ordination in fighting laundering and terror funding, officials said on Monday.


The Financial Action Task Force in the Middle East and North Africa will exchange views on the measures taken by each member in combating money laundering and the assessment of such measures by the International Monetary Fund (IMF).

“This meeting will bring together all members of the task force and will discuss reports on measures taken by each member,” said Sheikh Fahd bin Faisal Al Thani, deputy governor of Qatar’s Central Bank.

“Qatar will present its own report during the meeting and explain its policy, which has been assessed by the IMF,” he told Qatari newspapers.

UAE Central Bank sources confirmed the meeting would be held in the capital in the first week of April but would not specify the exact date.

The task force on money laundering was established by the G-7 Summit that was held in Paris in 1989. During 1991 and 1992, the task force expanded its membership from the original 16 to 28 members, which increased to 33 in 2007.

Besides the UAE, the task force comprises Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia and Yemen.