Krasnoyarsk:The Middle East and North Africa Financial Action Task Force (MENAFATF), led by President Hamid Saif Al Zaabi, made its inaugural participation in the sixth International Olympiad on Financial Security, hosted in Krasnoyarsk, Russia.
According to Emirates News Agency, the event, organized by Russia's Federal Financial Monitoring Service from September 27 to October 2, gathered 700 students from 45 countries. MENAFATF's involvement is part of its strategy to enhance cooperation with the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), support capacity building, and strengthen ties among institutions, universities, and research centers.
During the Olympiad, Al Zaabi engaged in discussions with the Chair of the Eurasian Group and the Chair of the Eastern and Southern Africa Anti-Money Laundering Group to explore mutual priorities and initiatives. He also participated in a 'Tree of Friendship' planting event with the Chair of the Eurasian Group.
The programme featured the International Financial Security Forum, which addressed risks associated with artificial intelligence in financial security, and included panel discussions, workshops, and meetings between students and experts.
Al Zaabi met with students from MENAFATF countries, discussing their Olympiad experiences and the benefits of participation. He encouraged them to enhance their knowledge of financial security.
In his keynote address at the closing ceremony, attended by Dmitry Chernyshenko, Deputy Prime Minister of Russia, Al Zaabi stressed the importance of capacity building, skilled professionals, and technical experts in the UAE's MENAFATF presidency. He highlighted the need to invest in young talent and develop expertise to safeguard financial systems.
Emphasizing the role of universities and research centers, Al Zaabi noted MENAFATF's launch of its first Forum for Research and Training Centres during its 42nd Plenary Meeting in Morocco, aiming to connect academic and professional expertise to address financial risks.
Al Zaabi underscored the need for continued collaboration between MENAFATF, the Eurasian Group, and global partners to share knowledge, anticipate risks, and create an effective international response to financial crime.
The International Olympiad on Financial Security, launched in 2021, serves as a platform to promote financial literacy, identify talent, and connect education with practical application and international expertise.