Minister of Economy: The decision to raise the name of the UAE from high -risk countries in the field of money laundering is a new achievement for the state
Abu Dhabi, July 10 / WAM / His Excellency Abdullah bin Touq Al -Marri, Minister of Economy and Tourism, welcomed the decision to raise the UAE from the list of the European Parliament to the third high -risk countries in the field of money laundering and terrorist financing, stressing that the decision approved by the European Parliament represents a prominent station and a new achievement added to the registry of the state full of successes in its career towards establishing its position in a stable, secure economic and reliable economic destination globally, and embodies the proactive vision For the rational leadership, effective integration between the federal and local authorities and the private sector in building an business environment committed to the highest transparency standards.
His Excellency pointed out that the Ministry of Economy and Tourism worked during the last stage, in cooperation with the various authorities concerned with this vital file in the country, to enhance the level of awareness in the private sector and the development of advanced regulatory policies in the sectors of the non -specific financial businesses and the specified financial professions, expanding the scope of inspection and audit based on risk assessment, and updating the procedures for organizing real beneficiary data, within an integrated institutional approach that keeps pace with international best practices.
He added: “In the context of national efforts, the Ministry of Economy and Tourism attaches the file of money laundering and combating terrorist financing of utmost importance, in an obligation to enhance compliance with companies operating in the country with all the requirements and legislation facing money laundering and terrorist financing, which contributes to the consolidation of the entrepreneurial status of the Business Environment in the UAE, a reliable economic and investment partner.”
He explained that the Ministry’s efforts in this file witnessed many stations that caused a positive leap in the development of the system of facing money in the country, including the launch of the policy for the due care regulations for the supply chain of gold in the country, the implementation of about 3,800 office and field inspection rounds during the year 2024, and the organization of more than 250 workshops and a conference at the local and international levels, and providing awareness to more than 15 thousand employees of business and professions other than The Financial specified, during the past five years.
His Excellency pointed out that this step is of additional importance, as it comes after the great achievement achieved by the country last year by announcing the Financial Working Group (FAF), the UAE’s exit from its gray list, which confirms its firm commitment to strengthening a stable national economic system free of financial crimes, and consolidating transparency and governance is a major pillar of business in the country.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and
