Which of the following statements is true regarding the United Arab Emirates (UAE) and its status in the Asia-Pacific Group on Money Laundering (APG)?

Solution

The United Arab Emirates (UAE) has been granted observer status of the Asia-Pacific Group on Money Laundering (APG). The UAE is the first Arab country to receive this status. The APG is an inter-governmental organization with 41 member countries. The UAE will share knowledge and best practices with partners from over 40 countries.  The APG was founded in 1997 and is part of a global network of anti-money laundering bodies known as Financial Action Task Force-Style Regional Bodies. The APG's 2023 Annual Meeting and Forum on Technical Assistance and Training took place in Vancouver from July 9 to 14. About UAE Capital: Abu Dhabi                             Currency: UAE dirham