Page 517 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/22/25, 4:47 PM UAE Hosts DNFBPs Summit to Strengthen Role in Combatting Financial Crimes
National Strategy Aligned With Global Standards

In his keynote address, H.E. Abdulla bin Touq Al Marri reaffirmed the UAE’s commitment to combating
financial crimes through advanced legislative and regulatory frameworks.

“The UAE, under the guidance of its wise leadership, has implemented a robust national system to
counter money laundering and terrorism financing, making it one of the most advanced legal systems

globally,” he stated.

He emphasized the UAE's proactive steps, including the enactment of seven major legislative
policies between 2020 and 2024, enhancing the country's reputation as a global economic hub
rooted in integrity, transparency, and compliance.

Private Sector: The First Line Of Defense

H.E. Bin Touq highlighted the essential role of DNFBPs in detecting and reporting suspicious activities,

stating:

“The private sector, especially DNFBPs, represents the first line of defense. Their role is key in
identifying and reporting suspicious transactions, thereby supporting authorities in investigating illicit
activities, recovering unlawful gains, and implementing financial sanctions.”

He added that the summit provides a platform to improve dialogue and coordination

between regulatory authorities and the private sector, enhancing corporate compliance and
sustainable business practices in line with evolving FATF requirements.

EOCN’s Vision For Unified Action

H.E. Talal Al Teneiji, Director of EOCN, stressed the importance of collaborative efforts across sectors:

“Countering financial crimes requires more than compliance—it demands unified national and
international cooperation,” he said.

Al Teneiji spotlighted EOCN’s initiatives, including the launch of a specialized e-learning
platform on targeted financial sanctions, the release of guidance materials and awareness
programs, and the completion of a national risk assessment study addressing weapons
proliferation financing.

“The DNFBP sector remains a cornerstone in building effective counter-terrorism and non-proliferation

frameworks,” Al Teneiji noted.

Strengthening Compliance Through Knowledge And Agreements

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