UAE Endorses National Strategy to Combat Money Laundering and Terrorism Financing

 


The UAE Cabinet has endorsed a comprehensive National Strategy for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) for 2024-2027. The strategy, approved during a Cabinet meeting chaired by Sheikh Mohammed bin Rashid in Abu Dhabi, aims to reinforce the country's financial security and align with global efforts to combat economic and financial crimes.

This new strategy emphasizes sustainable oversight of financial institutions and virtual asset service providers. It seeks to enhance governance, transparency, and the utilization of financial information to support investigations. Additionally, the strategy aims to improve transparency around real beneficiaries and prevent the misuse of legal entities.

The strategy outlines 11 national strategic goals focusing on key areas such as oversight, international cooperation, governance, and transparency. By implementing these goals, the UAE aims to bolster its financial system's security and continue its commitment to global standards in combating financial crimes.

The UAE's robust legal and regulatory framework underpins this strategy, ensuring that the nation remains at the forefront of efforts to prevent money laundering and terrorism financing.

Comments

Post a Comment

Popular posts from this blog

Abu Dhabi Crown Prince Visits India to Strengthen Ties

Image
  Abu Dhabi Crown Prince Sheikh Khalid bin Mohammed bin Zayed Al Nahyan is on his first official visit to India since assuming his new role. His visit is aimed at further strengthening the already robust relations between India and the UAE. Upon arrival, Sheikh Khalid was warmly welcomed by Union Minister Piyush Goyal. During his stay, the Crown Prince will hold important meetings with key Indian leaders, including Prime Minister Narendra Modi and President Draupadi Murmu. Additionally, he will engage with business leaders and attend the Mumbai Business Forum, where discussions will focus on trade and investment opportunities between the two nations. India and the UAE enjoy a strong partnership across various sectors, and this visit follows Prime Minister Modi’s trip to the UAE in February, where eight crucial agreements were signed. The Crown Prince’s visit is expected to further enhance collaborations in emerging areas, opening up new opportunities for growth and cooperation.
Read more

Prime Minister Modi's COP28 Address: A Crucial Moment for Global Climate Action

Image
  Prime Minister Narendra Modi is set to address the COP28 meeting in Dubai, marking a significant moment in the ongoing global efforts to combat climate change. His arrival in the UAE on November 30 was met with a warm reception from the Indian diaspora, showcasing the widespread support for his leadership on the international stage. The cultural dance performance outside the hotel in Dubai reflected the enthusiasm and optimism of the Indian community, with chants of 'Modi, Modi' and slogans like 'Abki Baar Modi Sarkar' and 'Vande Mataram.' Such a display not only highlights the diaspora's pride in the Prime Minister but also underscores the collective acknowledgment of the importance of climate action. PM Modi's participation in the World Climate Action Summit during COP28 demonstrates India's commitment to addressing the pressing issues surrounding climate change. The summit provides a platform for world leaders to take stock of the progress mad
Read more

International Day of Charity: A Global Commitment to Humanity

Image
International Day of Charity reminds us of the pressing need for global solidarity and compassion. As the world faces numerous challenges, charitable efforts become crucial in bridging gaps and alleviating suffering. Countries around the globe have demonstrated remarkable commitment to this cause, aiding communities in distress and fostering hope. In the fight against the COVID-19 pandemic, many nations extended their support to those in need. One notable example is the substantial assistance provided to India in May 2020. The country received a critical aid shipment consisting of 7 metric tons of medical supplies, which were essential for supporting approximately 7,000 medical professionals battling the crisis. This gesture underscored not only the global community's solidarity but also the profound impact of international aid. Among the leading contributors to global humanitarian efforts is the United Arab Emirates (UAE). Since its establishment in 1971, the UAE has provided more
Read more