Abdullah bin Zayed chairs the meeting of the Supreme Committee to Supervise the National Strategy to Combat Money Laundering and Terrorist Financing

Abu Dhabi, June 3, 2017 – His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, chaired the twenty-third meeting of the Supreme Committee to supervise the national strategy to combat money laundering, combat the financing of terrorism, and financing the proliferation of armaments.

His Highness Sheikh Abdullah bin Zayed Al Nahyan stressed that the UAE is continuing to strengthen an integrated and effective national system to confront money laundering and combat the financing of terrorism and the financing of the proliferation of weapons, by continuing to develop its legislative, supervisory and executive frameworks, and developing international partnerships, in a way that strengthens the country’s position as a reliable partner in global efforts to confront financial crimes.

His Highness praised the efficiency and flexibility of the national work system, which was represented by the ability and readiness of various parties to continue implementing the national priorities related to the national strategy to confront money laundering and combat the financing of terrorism and the financing of proliferation (2024-2027) and its action plan, despite the regional challenges, pointing to what this reflects of the solidity and institutional readiness of the national system, the efficiency of the national work teams, and the state’s continued commitment to the file of confronting money laundering and combating the financing of terrorism and financing of proliferation.

During the meeting, the committee approved the performance indicators of the national system for the year 2025 in the field of combating money laundering, combating the financing of terrorism, and financing the proliferation of arms, which contributes to enhancing the measurement of the effectiveness of the national system and documenting its results, according to accurate and updated indicators.

During the meeting, His Excellency Hamid Al Zaabi, Secretary-General and Vice Chairman of the National Committee, reviewed the most important of these indicators, which reflected tangible progress in the areas of understanding risks, international cooperation, oversight, transparency and financial investigations. The most important indicators included the implementation of 781 inspections of financial institutions and virtual asset service providers and the imposition of fines amounting to 384 million dirhams, while 8,900 inspections were carried out on specified non-financial businesses and professions, imposing fines amounting to 160.33 million dirhams. In the field of international cooperation, the number of mutual legal assistance requests received increased to 516 requests, while the indicators in combating the financing of terrorism included the registration of 56 investigations into terrorist financing cases during the past year.

The meeting witnessed a review of the most prominent developments in the joint mutual assessment process by the Financial Action Task Force (FATF) and the Financial Action Task Force for the Middle East and North Africa (MENAFATF) and reviewing the preparations of the various national working teams and their efforts in this regard, which contributes to ensuring the alignment of national procedures with effectiveness requirements and relevant international standards.

The committee also reviewed the outputs and results of the various training programs implemented, which aim to raise the efficiency of national teams, enhance readiness, and enhance the capabilities, competencies, and cadres working in confronting money laundering, combating the financing of terrorism, and financing the proliferation of arms.

The meeting, which was held via remote visual communication technology, was attended by His Excellency Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, His Excellency Shamma bint Suhail Al Mazrouei, Minister of Community Empowerment, His Excellency Ahmed Ali Al Sayegh, Minister of Health and Community Protection, His Excellency Abdullah bin Touq Al Marri, Minister of Economy and Tourism, His Excellency Abdullah Sultan bin Awad Al Nuaimi, Minister of Justice, His Excellency Saeed Al Hajri, Minister of State, and His Excellency Khaled Al Amma Al Tamimi, Governor of the Central Bank of the United Arab Emirates, and His Excellency Lieutenant General Talal Belhoul Al Falasi, Head of the State Security Service in Dubai.

The meeting was also attended by His Excellency Dr. Ibrahim Mohammed Al Zaabi, Deputy Head of the State Security Service, His Excellency Imran Sharaf Al Hashemi, Assistant Minister for Science and Advanced Technology, His Excellency Hamid Saif Al Zaabi, Secretary General of the National Committee to Combat Money Laundering and Combating the Financing of Terrorism and Financing of Proliferation, His Excellency Aisha Yousef, Undersecretary of the Ministry of Community Empowerment, His Excellency Ahmed bin Lahej, Director General of Customs and Ports Security at the Federal Authority for Identity and Citizenship, Customs and Ports Security, Her Excellency Safiya. Hashem Al-Safi, Assistant Undersecretary for the Commercial Control and Governance Sector at the Ministry of Economy and Tourism.

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