Page 46 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

Press Release

H.E. said: “We firmly believe that the private sector, particularly the DNFBPs, represents the
first line of defense in the fight against financial crimes. Their proactive role in promptly
identifying and reporting suspicious transactions is essential to empowering the competent
authorities to detect and investigate illicit activities, hold offenders accountable, seize unlawful
proceeds, and enforce relevant sanctions. These efforts play a critical role in cultivating a secure
and transparent business ecosystem and maintaining a stable economic environment - further
enhancing the UAE’s standing as a safe, reliable, and attractive destination for investment, both
regionally and globally.”

His Excellency added: “The summit s happening at a time when the regulatory and control
environment for combating money laundering and countering terrorism financing is
undergoing rapid developments. It serves as a key national platform for strengthening dialogue,
enhancing communication, and fostering integration between regulatory bodies and the private
sector across the UAE.”

H.E. continued, “Through this platform, we aim to advance joint collaboration to enhance the
preparedness of Designated Non-Financial Businesses and Professions (DNFBPs), and
strengthen their alignment with recent adjustments to the Financial Action Task Force (FATF)
methodology. This will be achieved by promoting best practices and creating a platform for
constructive dialogue on challenges and opportunities. These efforts aim to establish a culture
of corporate compliance and achieve the highest levels of sustainability.”

In his speech, H.E. Talal Al Teneiji, Director of the Executive Office for Control and Non-
proliferation (EOCN), emphasized the collaborative nature of efforts to counter financial crime.
He said: “Addressing financial crimes is not just a regulatory compliance matter; it is a shared
responsibility that requires effective coordination among the public and private sectors, and
across the international level.”

Al Teneiji highlighted the strategic importance of the DNFBP sector, saying, “We are proud of
the valuable participation of the country’s government entities and the Designated Non-
Financial Businesses and Professions sector- a strategic partner we value deeply and consider
a vital line of defense in combating financial crime – in this summit. This sector plays a key
role in shaping and implementing the requirements for control, counter-terrorism and the
proliferation of weapons.”

H.E. also commended the UAE’s forward-looking approach to strengthening its legislative
framework, saying, “Over the recent years, the UAE has made significant strides in updating
its necessary legislative and operational systems to ensure full compliance with international
obligations related to targeted financial sanctions aimed at countering terrorism financing and
the proliferation of weapons.”

Highlighting EOCN’s recent efforts in capacity building, H.E. Al Teneiji noted that the Office
has recently launched a specialized e-learning platform focused on targeted financial sanctions.
Additionally, there are programs, guidelines, explanatory videos, awareness sessions, and
presentations made available through the official website and communication channels. H.E.
also highlighted a recently completed national study, developed in collaboration with both
sectors, focused on assessing the risks associated with the financing of weapons proliferation
across the country. The sessions shared the key findings from this study to contribute to
mitigating risks associated with clients.