Saudi Press

Saudi Arabia and the world
Thursday, Jul 10, 2025

0:00
0:00

Abdullah bin Zayed chairs meeting of Higher Committee Overseeing National Strategy on Anti-Money Laundering and Countering Financing of Terrorism

Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, chaired the 15th meeting of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism.
During the meeting, Hamid Saif Al Zaabi, Director-General of the Executive Office of AML/CFT, presented the overall progress on the UAE’s National Action Plan on AML/CFT, which included an increase of over 100 percent in international cooperation and mutual legal assistance cases and requests.

Progress in supervisory efforts and the effective implementation of a robust risk-based approach was also discussed. Al Zaabi highlighted that enforcement actions have led to the imposition of penalties that have exceeded AED41 million in the first six months of 2022.

The efforts of Supervisory authorities were also referenced, which have resulted in enhanced guidance to the private sector, and 6 risk assessments covering the following sectors: financial institutions, dealers in precious metals and stones, real estate, lawyers, accountants and auditors, and trust services providers.

The presentation highlighted registries’ efforts, including the adoption of a legal persons and arrangements risk assessment, an increase of overall compliance by registries through implementing various policies and procedures, the utilisation of automated solutions for risk rating, and the use of the GoAML function.

On financial information and investigations, law enforcement agencies continue to enhance money laundering investigations and cooperation with international counterparts, which has led to several successful interceptions of individuals that present a threat to the global financial system.

These arrests included Atul and Rajesh Gupta, some of the most wanted South African individuals in criminal and money laundering cases, and Sanjay Shah, a suspect in a US$1.7 billion tax fraud and money laundering case in Denmark.

On targeted financial sanctions, relevant authorities have enhanced outreach to the private sector to ensure effective implementation of sanctions and to increase their awareness on the matter.

Over 11 outreach sessions were conducted with more than 7,000 participants from the private sector, in addition to issuing of several guidance notes to relevant authorities.

The Higher Committee welcomed the steps taken and the progress achieved by all authorities, which reflects the UAE’s commitment to combating money laundering and terrorist financing.

Moreover, the Higher Committee was briefed on a working plan developed by the Executive Office of AML/CFT in cooperation with the National AML/CFT Committee and Ministry of Foreign Affairs and International Cooperation and other strategic stakeholders on the submission of the progress report.

The meeting was attended by Abdullah bin Sultan bin Awad Al Nuaimi, Minister of Justice; Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; Ahmed Ali Al Sayegh, Minister of State; Khalid Mohammed Salem Balama Al Tamimi, Governor of the UAE Central Bank; Hessa bint Essa Buhumaid, Minister of Community Development; Ali Al Neyadi, Chairman of the National Emergency Crisis and Disasters Management Authority; and Lt. Gen Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police.

Abdulnasser Al Shaali, Assistant Minister for Economic and Trade Affairs; Rashid Al Amiri, Under-Secretary of Ministry of Presidential Affairs; and Abdullah Al Saleh, Under-Secretary of the Ministry of Economy, were also present.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
×