UAE Secures Observer Status at Eurasian Group

The Eurasian Group (EAG) has granted the UAE observer status following a plenary meeting. This inclusion is expected to enhance cooperation with the Middle East and North Africa Financial Action Task Force (MENAFATF). The EAG also aims to assist Iran in meeting FATF standards.

The Eurasian Group (EAG) has announced the United Arab Emirates' (UAE) successful acquisition of observer status. The decision came from the EAG's 41st plenary meeting, which concluded Friday.

The UAE now joins a list of nations including Italy, the US, Japan, Germany, and France, who already enjoy observer status. EAG chairman Yuri Chikhanchin highlighted the UAE's active participation as special guests over the past two years as part of the reason for this decision.

Additionally, the EAG has committed to providing technical support to Iran to help it comply with the Financial Action Task Force's (FATF) standards. The next EAG meeting is set for May in Moscow.

(With inputs from agencies.)