Page 514 - 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
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.

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