Page 24 - MOET ENGLISH PR REPORT - JULY 2025

Press Release

Minister of Economy and Tourism and Governor of Palestine
Monetary Authority discuss cooperation in AML/CFT efforts

H.E. Bin Touq briefs Palestinian side on UAE’s leading legislative and
regulatory framework to combat money laundering

Abu Dhabi, 29 July 2025:

H.E. Abdulla bin Touq Al Marri, Minister of Economy and Tourism, met with H.E. Yahya
Shunnar, Governor of the Palestine Monetary Authority and Chairman of the National Committee
for Anti-Money Laundering, to explore new avenues for enhancing economic and development
cooperation, particularly in the area of financial crime prevention systems. The meeting was also
attended by H.E. Safia Al Safi, Assistant Undersecretary for the Commercial Control and
Governance Sector at the Ministry.

During the meeting, both sides reviewed the latest global developments in combating financial
crimes and discussed the growing risks that money laundering poses to economic stability and the
integrity of financial systems. H.E. Bin Touq highlighted the UAE’s pioneering efforts in this area,
sharing insights into the country's continuous work to enhance and modernize its legislative and
regulatory frameworks. He emphasized that these reforms have played a critical role in bolstering
compliance with international laws and standards across the UAE’s markets.

H.E. Bin Touq emphasized that boosting UAE-Palestine cooperation across economic and
developmental domains is a key priority guided by the vision of the UAE’s wise leadership. He
said: "The UAE has built a globally recognized and leading model for combating financial crime.
Our consistent efforts have bolstered the UAE’s global standing as a safe, stable, and competitive
economy. As a result, the country has been removed from the Financial Action Task Force (FATF)
grey list, and more recently, from the European Parliament’s list of high-risk third countries for
money laundering and terrorism financing." He reiterated the Ministry’s readiness to share the
UAE’s expertise to support the efforts of the Palestinian Authority in this critical field.

The meeting also reviewed the Ministry’s progress in developing the National Economic Register
(NER), which now stands as the UAE’s largest digital platform for unified and verified commercial
license data. The register integrates requirements related to Ultimate Beneficial Ownership (UBO)

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