Page 45 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

Press Release

Summit highlighting the role of DNFBPs sector in fighting
financial crimes kicks off in Dubai

Organized by the Ministry of Economy and the Executive Office for Control
and Non-Proliferation

Dubai, April 17, 2025: Under the patronage and in the presence of H.E. Abdulla bin Touq Al
Marri, Minister of Economy, and H.E. Ahmed Al Sayegh, Minister of State, the “Role of
the DNFBPs Sector in Fighting Financial Crimes” summit kicked off in Dubai. Organised by
the Ministry of Economy and the Executive Office for Control and Non-Proliferation (EOCN),
the two-day event, taking place on April 16 and 17, aims to highlight national efforts,
underscore the importance of enhanced compliance with international standards, and
strengthen cooperation between the public and private sectors in combating terrorism financing
and the proliferation of arms.

The summit serves as a key platform to raise awareness on the updated national and
international requirements set forth by the Financial Action Task Force (FATF), with a focus
on customer due diligence and verification procedures in alignment with targeted financial
sanctions aimed at preventing terrorism financing and the proliferation of arms. It also seeks to
empower the DNFBPs sector, which includes real estate agents and precious metals dealers, to
effectively implement the latest regulatory measures.

In his opening remarks, H.E. Abdulla bin Touq Al Marri, Minister of Economy, emphasized
that the UAE, guided by the directives of its wise leadership, has adopted advanced and
forward-thinking strategies and legislations to build an integrated national framework to
combat money laundering and terrorism financing. These efforts, aligned with global best
practices, have significantly bolstered the UAE’s global economic reputation, reinforcing its
status as a competitive economic hub committed to the highest standards of integrity,
transparency, and regulatory excellence in financial and commercial oversight.

H.E. Bin Touq noted that the UAE has introduced a comprehensive set of legislations and
policies aimed at reinforcing its anti-money laundering framework—positioning it among the
most advanced legislative systems globally. More than seven key legislations and policies were
enacted within a span of just four years, specifically between 2020 and 2024. Furthermore, the
UAE remains steadfast in its commitment to supporting global efforts to combat financial
crimes by adhering to the standards of the Financial Action Task Force (FATF) and deepening
cooperation with partners at both the regional and international levels.