Page 456 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/23/25, 3:58 PM Ministry of Economy Signs MoUs to Combat Financial Crimes in the UAE - UPPERNEWS: UAE news, Dubai news, technology news
The signing ceremony took place during the “Role of the Designated Non-Financial Businesses and Professions
(DNFBPs) Sector in Combating Financial Crimes” summit held recently in Dubai. Key officials present included
Abdulla bin Touq Al Marri, Minister of Economy; Abdulla Sultan bin Awad Al Nuaimi, Minister of Justice; and Ahmed Al
Sayegh, Minister of State. The MoUs were signed by Abdulla Ahmed Al Saleh, Undersecretary of the Ministry of
Economy, along with other senior officials from the participating agencies.

This initiative is part of ongoing efforts to enhance institutional partnerships and improve compliance systems while
facilitating data exchange among the signatories. The MoUs provide a framework for technical cooperation, capacity
building, and secure data sharing mechanisms that comply with legal and regulatory standards.

Representatives from the signing entities highlighted the need to strengthen national strategies against money
laundering, terrorism financing, and the proliferation of weapons. These efforts are crucial for preparing the UAE for
an upcoming mutual evaluation and for ensuring compliance with legislative requirements, which in turn contributes
to sustainable economic growth and improved global competitiveness.

The summit, which took place on April 16 and 17, aimed to underscore national efforts and the significance of
enhanced compliance with international standards. It serves as a platform to raise awareness about updated
requirements established by the Financial Action Task Force (FATF) and emphasizes the need for effective
regulatory measures among the DNFBPs sector.

In his remarks, Abdulla bin Touq Al Marri affirmed the UAE’s commitment to building an integrated framework to
combat financial crimes, noting that recent legislative measures have positioned the country among the leaders in
global anti-money laundering efforts. He pointed out that over seven key legislations and policies have been enacted
between 2020 and 2024 to strengthen the UAE’s framework, demonstrating its dedication to international
cooperation in fighting financial crimes.

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