Connect with us

UAE News

UAE President Sheikh Mohamed bin Zayed Al Nahyan Honors Committee for Anti-Money Laundering and Counter-Terrorism Efforts

UAE President Sheikh Mohamed bin Zayed Al Nahyan Honors Committee for Anti-Money Laundering and Counter-Terrorism Efforts

In a significant recognition of their efforts, UAE President Sheikh Mohamed bin Zayed Al Nahyan has honored the committee overseeing the national strategy on anti-money laundering and counter-terrorism financing. Foreign Minister Abdullah bin Zayed Al Nahyan was awarded the prestigious Order of the Union, while other committee members, ministers, and senior officials received the Order of Zayed II First Class.

The accolades come in the wake of the UAE’s removal from the Financial Action Task Force (FATF)’s list of ‘Jurisdictions under Increased Monitoring’. FATF, an international organization dedicated to combating money laundering and terrorist financing, acknowledged the UAE’s efforts in enhancing its financial system and national framework for combating financial crimes.

During a meeting at Qasr Al Bahr in Abu Dhabi, attended by Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, President Sheikh Mohamed congratulated the committee members on their success. He lauded their significant efforts, which contributed to achieving the milestone of UAE’s removal from FATF’s list.

The decision to remove the UAE from the list underscores the country’s growing global reputation and reinforces confidence in its financial system. It aligns with the UAE’s strategic plans to foster commercial and economic partnerships worldwide.

In a report by the state news agency WAM, it was emphasized that the success reflects the collective efforts of various entities to develop robust plans to combat money laundering and terrorism financing. President Sheikh Mohamed affirmed the UAE’s commitment to enhancing its competitiveness and establishing itself as a leading financial center and preferred destination for business and investment.

As a responsible member of the international community, the UAE remains steadfast in its resolve to combat money laundering and eliminate funding channels for terrorism. President Sheikh Mohamed reiterated the country’s dedication to working collaboratively with partners and stakeholders worldwide to combat financial crimes and promote best practices in this regard.

The recognition bestowed upon the committee underscores the UAE’s unwavering commitment to upholding the highest standards of integrity in its financial sector. It signifies the country’s proactive stance in combating illicit financial activities and safeguarding its reputation as a reliable and transparent financial hub on the global stage.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending