Page 535 - 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 | Web Release
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 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.”

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