Effective measures implemented to protect the financial environment
The UAE reaffirmed its commitment and continued efforts to strengthen its anti-money laundering (AML) and countering the financing of terrorism (CFT) regulatory framework.
Authorities continue to maintain and implement effective sanctions with robust screening systems and processes, to ensure the integrity, safety and security of the global financial system.
Hamid Al Zaabi, Director General of the UAE Executive Office for Combating Money Laundering and Terrorist Financing, said: “As a global trading hub, the UAE is open to businesses and entrepreneurs. from around the world. At the Anti-Money Laundering/CFT Executive Office, our goal is to continuously strengthen the UAE’s framework for combating financial crime.”
To date, effective measures and proactive regulatory measures to protect the country’s financial environment have been implemented by the authorities, including the Central Bank of the United Arab Emirates; Securities and Commodities Authority; Ministry of Economy; Ministry of Justice; Abu Dhabi World Market; and the Dubai Financial Services Authority, as well as close inter-agency cooperation.
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On the regulatory front, Al Zaabi said, “We are actively advancing our approach, providing a stable and efficient regulatory and enforcement system in line with international standards. We are working with the business community to ensure they can comply and thrive in an attractive and resilient environment.”
Talal Mohammed Al Teneiji, Director of the Executive Office for Control and Non-Proliferation, said: “As a responsible member of the international community, the United Arab Emirates is committed to ensuring the stability and integrity of the economy of the country through the application of targeted financial sanctions.”