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8/16/24, 1:44 PM Ministry of Economy continues its efforts in implementing the UAE’s AML/CFT legislative and regulatory system in accordance with …

BUSINESS

Ministry Of Economy Continues Its Efforts In Implementing The
UAE’s AML/CFT Legislative And Regulatory System In Accordance

With International Best Practices

By Editor_wr On Aug 11, 2024

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The Ministry of Economy affirmed that it continues its efforts to implement the legislative and regulatory system for
anti-money laundering in the country, in accordance with international best practices. In addition, the Ministry continues

to monitor the Designated Non-Financial Businesses and Professions (DNFBP) sector in order to ensure its highest
levels of compliance with the UAE’s AML/CFT legislation.

The Ministry explained that the implementation of the policy on due diligence regulations for the responsible sourcing

of gold in the country forms part of its role in monitoring the gold sector and the activities of precious metals and
gemstones trade and industry. This is in line with the country’s adherence to the international standards adopted in this

regard, the most important of which are the standards of the Organization for Economic Co-operation and Development
(OECD).

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