Page 520 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/22/25, 4:48 PM Summit highlighting the role of DNFBPs sector in fighting financial crimes kicks off in Dubai
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.

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 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.”

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