Page 513 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/22/25, 4:47 PM Summit highlighting the role of DNFBPs sector in fighting financial crimes kicks off in Dubai
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.

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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.

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

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