Page 525 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/22/25, 4:48 PM Latest News
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.

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

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