Establishing the General Secretariat as an executive body for the “National Committee to Combat Money Laundering”

Based on the provisions of Federal Decree Law No. (7) of 2024, which includes the establishment of the General Secretariat of the National Committee to Combat Money Laundering and Combating the Financing of Terrorism and the Financing of Illegal Organizations, the regulatory decision of the General Secretariat was approved today as an executive body that supports the work of the committee and supervises the implementation of the National Strategy to Combat Money Laundering. Money and terrorist financing in the country.

Pursuant to the aforementioned organizational formation decision, the General Secretariat will assume a pivotal role in coordinating compliance efforts with all national authorities and the public and private sectors to increase the efficiency of the financial sector, which is one of the main goals in the national strategy to confront money laundering, terrorist financing, and financing of arms proliferation for the years 2024-2027.

The General Secretariat will also lead the task of strengthening and adapting the legal and institutional framework to combat money laundering and implementing policies aimed at combating money laundering, terrorist financing and the spread of arms and identifying related activities, which strengthens the UAE’s commitment to ensuring the security and stability of its financial systems and the prosperity of its economic future.

The General Secretariat will contribute to strengthening and adapting the legal and institutional framework in the UAE, to ensure its compatibility and compliance with the latest recommendations and international standards represented by the Financial Action Task Force (FATF), including evaluating the country’s technical performance and effectiveness in the field of confronting financial crime by the group.

The General Secretariat will act as the entity responsible for international partnerships, as it will work to strengthen the country’s strategic partnerships with its global counterparts to ensure more effective efforts in combating financial crimes and enhancing the positive UAE image in the international scene.

In addition to its main responsibilities, the General Secretariat will manage strategic and technical tasks, such as supervising national money laundering risk assessments, monitoring emerging financial threats, and facilitating smooth coordination at the national and international levels.

His Excellency Hamid Saif Al Zaabi, Secretary-General and Vice-Chairman of the National Committee to Combat Money Laundering and Combating the Financing of Terrorism and the Financing of Illicit Organizations, said that the establishment of the General Secretariat clearly reflects the vision of the wise leadership and reinforces the UAE’s firm commitment to protecting the national and global financial systems.

He stressed that the decision represents a pivotal strategic step to consolidate the UAE’s leadership in combating financial crimes, and to ensure a safe and advanced financial environment in line with the UAE Economic Vision 2031. It also represents a high-level commitment to preserving the integrity of the national financial system and enhancing its readiness to address the global challenges posed by cross-border financial crimes.

His Excellency added that through effective coordination and unification of expertise, and investment in national competencies, the General Secretariat will lead the effective implementation of policies and enhance cooperation between national and international authorities, pointing out that the General Secretariat will continue to work side by side with the national team to ensure the sustainability and effectiveness of efforts to confront financial crimes.