The Arab Forum on Asset Recovery, will hold a Special Session from 11th – 13th June 2013 in Sharm-el-Sheikh, Egypt, as part of its international effort in the fight against corruption and for the return of stolen assets. The session will focus on ‘Financial Investigations in Support of Asset Recovery’, and will be attended by investigators, financial intelligence analysts, judicial and law enforcement officials from Arab countries in transition, along with representatives from other countries in the Arab World. In addition the work of the Special Sessions will be supported by the participation of representatives from the G8, major financial centers, and the Stolen Asset Recovery Initiative (StAR).
In the wake of the Arab Spring, asset recovery has become a crucial issue globally and within the Arab World. The First Arab Forum on Asset Recovery which took place in Doha in September 2012 identified a number of obstacles for the return of illicit assets both in the Arab countries in transition as well as in the large international financial centers where many of the assets have been located.
A work plan was established to address some of these challenges and three ‘Special Sessions’ to take place in 2013, were designed to offer training and guidance on specific issues. Special Session I which took place in Doha in April, concentrated on the ways to improve domestic cooperation, Special Session II in Sharm-El-Sheikh is concerned with financial investigations, and Special Session III which will take place in September, will look at the role of NGO’s in asset recovery.
Special Session II taking place in Sharm-El-Sheikh, illustrates the continued commitment by all participants to the asset recovery process. Hosted by the Ministry of Justice of the Arab Republic of Egypt with the support of the G8, the Stolen Asset Recovery Initiative and the Anti-Corruption Center in Doha along with the UN Special Advocate for Asset Recovery, Special Session II will offer practical guidance to countries undertaking financial investigations. It will strengthen their capability by providing training on the skills, methods, and tools relevant to the identification and tracing of assets. In addition the Session will provide a forum for consultations on specific cases between participating officials to advance cooperation.
The Arab Forum on Asset Recovery
The Arab Forum on Asset Recovery is a stand-alone institution fostering asset recovery efforts for Arab countries in transition. It works as a platform bringing together the G8 (currently under the Presidency of the UK), the Deauville Partnership, countries throughout the Arab World, and StAR.
StAR
The Stolen Asset Recovery Initiative (StAR) is a partnership between the World Bank Group and the United Nations Office on Drugs and Crime that supports international efforts to end safe havens for corrupt funds. StAR works with developing countries and financial centers to prevent the laundering of the proceeds of corruption and to facilitate more systematic and timely return of stolen assets.
The Deauville Partnership with Arab Countries in Transition
The Deauville Partnership with Arab countries in transition is an international effort, launched by the G-8 in Deauville, France in May 2011 to support countries in the Arab world engaged in transitions toward “free, democratic and tolerant societies.”
The G8 ‘Action Plan on Asset Recovery’
The G8 Action Plan on Asset Recovery, adopted in May 2012 committed the G8 to a comprehensive list of actions to promote cooperation and case assistance, capacity building efforts and technical assistance, for Arab countries in transition in recovering assets diverted by past regimes.
StAR:
Richard Miron: rmiron@worldbank.org
G8: