Al -Zaabi: We welcome the decision of the European Parliament .. And the UAE builds a sustainable national system that exceeds the exit from the lists
Abu Dhabi, July 10 / WAM / His Excellency Hamid Al -Zaabi, Secretary -General and Vice -Chairman of the National Committee to counter money laundering and combating terrorist financing and financing illegal organizations, welcomed the decision to remove the state name from the European Union list related to the third countries subject to control in the field of fighting money laundering and terrorist financing.
He explained that the UAE is not only working to meet the requirements for exit from international lists, but rather seeks to build a sustainable and comprehensive national system that establishes its position in this field.
Al -Zaabi said in statements to the Emirates News Agency “WAM” that the announcement of the European Parliament issued yesterday reflects the size of the large national efforts made by the state to protect its financial and economic system in accordance with the highest international standards, stressing that the UAE has succeeded in consolidating an integrated system to combat money laundering and terrorist financing.
He added that this achievement is a direct result of the extensive and systematic efforts of the National Committee and its general secretariat, which was reflected in the level of technical performance, and with the participation and solidarity of all state institutions from the public and private sectors, noting that the state continues to develop its system and enhance its cooperation with global institutions and partners, with the constant endeavor to consolidate its position in the forefront of countries that protect its financial and economic system from the risks of financial crimes.
He pointed out that the Supreme Committee to supervise the national strategy to confront money laundering and terrorist financing, headed by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, continues to play a pivotal role in leading these national efforts in coordination with the various concerned parties of the government and private sectors, through real proactive steps to address these crimes.
He explained that the UAE developed a clear national strategy to counter money laundering and terrorist financing, which was adopted by the esteemed cabinet in 2014, based on a comprehensive and specific action plan for each concerned party in the country, based on a national evaluation of the risks that included various sectors, praising the vital role of the private sector, which is now completely aware of the risks of these crimes, and plays a fundamental role in the success of the control system.
The Secretary -General and Deputy Chairman of the National Committee to counter money laundering and combating terrorist financing and financing of illegal organizations indicated that this year witnessed extensive efforts to enhance this national strategy by organizing workshops and emerging risks awareness programs revealed by the national evaluation, in addition to developing regulations and legislation, expecting that the year 2025 will witness developments in laws, legislation and decisions that contribute to supporting the anti -money laundering system and terrorist financing system The UAE’s complete compliance with international standards is enhanced by its highest levels.
He stressed that the UAE is characterized by the existence of clear and strict laws against financial crimes, which enhances its credibility and transparency at the international level and makes it an attractive destination for investment, noting that the state’s keenness to keep pace with international developments and standards immediately after its issuance, by updating its legislation in a proactive manner.
Al -Zaabi stressed the importance of international cooperation, especially with European countries, to ensure the continued exchange of information and the conduct of joint operations, as well as training and exchange of experiences, in a way that contributes to facing the patterns of new crimes that are increasingly linked to modern technologies and virtual assets, stressing that the ease of digital transactions and the Internet in our time makes it necessary to exchange information and experiences to combat financial crimes and stop illegal financial flows.
He explained that the UAE attaches great importance to preparing leaders and building national capabilities, through close cooperation with various institutions, implementing workshops, questionnaires, and awareness campaigns that keep pace with global variables in crime patterns, in a way that guarantees the familiarity of all parties, governmental and private, with these risks and ways to control them.
It is noteworthy that the decision of the European Parliament contributes to facilitating free trade talks between the UAE and the European Union, amid expectations of an increase in foreign investment in the Emirates by 3%, in light of the decline in investment risks, and it is expected that friction for the UAE financial institutions will be reduced by its headquarters in dealing with its European counterparts, facilitating cross -border financial transactions, and enhancing investor confidence in the credibility of the state.
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