Baku: Egypt and Namibia have formalized a partnership aimed at enhancing their joint efforts to combat money laundering and terrorist financing, particularly within the African continent. The announcement was made by Ahmed Saeed Khalil, Chairman of the Board of Trustees of the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU), following the signing of a memorandum of understanding with Namibia's Financial Intelligence Center during the 32nd Plenary Meeting of the Egmont Group.

According to State Information Service Egypt, Khalil emphasized that the newly signed agreement will bolster bilateral cooperation by facilitating the exchange of expertise, information, and capacity-building initiatives. This collaboration is expected to strengthen both nations' efforts in tackling financial crimes effectively.

Khalil also acknowledged Namibia's recent advancements in enhancing its anti-money laundering and counter-terrorist financing framework. He commended the country for taking effective steps to align with international standards and safeguard the integrity of its financial system.