Abdullah bin Zayed Strengthens UAE’s Anti-Money Laundering and Terrorism Financing Strategy in 23rd Committee Meeting
Abu Dhabi: H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, presided over the 23rd meeting of the Higher Committee overseeing the National Strategy on Anti-Money Laundering, Countering the Financing of Terrorism, and Countering Proliferation Financing. This meeting, held via remote video conference, focused on evaluating the UAE’s ongoing efforts to enhance its national systems against financial crimes.
Commitment to Strengthening National Frameworks
During the meeting, Sheikh Abdullah emphasized the UAE’s commitment to fortifying an integrated and effective national system aimed at combating money laundering and terrorism financing. He highlighted the importance of developing legislative, supervisory, and enforcement frameworks while fostering international partnerships. This approach aims to solidify the UAE’s reputation as a reliable ally in global initiatives against financial crime.
Sheikh Abdullah commended the resilience and efficiency of the national system, noting the readiness of various entities to implement national priorities under the National Strategy on Anti-Money Laundering, Countering the Financing of Terrorism, and Countering Proliferation Financing (2024-2027), despite facing regional challenges. He remarked that these efforts reflect the strength and institutional readiness of the national system, as well as the UAE’s unwavering commitment to these critical issues.
Performance Indicators and Progress
The Higher Committee approved the performance indicators for 2025, which are essential for measuring the effectiveness of the national system. Hamid Al Zaabi, Secretary-General and Vice Chairman of the National Committee, presented key indicators that demonstrated significant progress in areas such as risk understanding, international cooperation, supervision, transparency, and financial investigations.
Notably, the committee reported that 781 inspections were conducted across financial institutions and virtual asset service providers, resulting in penalties totaling AED 384 million. Additionally, 8,900 inspections were performed across designated non-financial businesses and professions, leading to penalties of AED 160.33 million. The number of incoming mutual legal assistance requests rose to 516, while 56 investigations related to terrorist financing were recorded in the past year.
International Cooperation and Training Initiatives
The meeting also addressed the latest developments concerning the joint mutual evaluation process by the Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF). The committee discussed the preparations undertaken by various national teams to ensure alignment with international standards and effectiveness requirements.
Furthermore, the committee reviewed the outcomes of various training programs designed to enhance the efficiency and readiness of national teams. These initiatives aim to bolster the capabilities and competencies of personnel involved in anti-money laundering and counter-terrorism financing efforts.
Attendance and Participation
The meeting was attended by several key officials, including Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Shamma bint Suhail Al Mazrui, Minister of Community Empowerment; Ahmed Ali Al Sayegh, Minister of Health and Prevention; Abdulla bin Touq Al Marri, Minister of Economy and Tourism; Abdullah Sultan bin Awad Al Nuaimi, Minister of Justice; Saeed Al Hajeri, Minister of State; Khaled Mohamed Balama, Governor of the Central Bank of the UAE; and Lieutenant General Talal Belhoul Al Falasi, Head of the Dubai State Security Department.
Other attendees included Dr. Ibrahim Mohammed Al Zaabi, Deputy Head of State Security; Omran Anwar Al Hashmi, Assistant Minister of Advanced Science and Technology; Hamid Saif Al Zaabi, Secretary-General of the National Committee for Anti-Money Laundering; Aisha Yousif, Undersecretary of the Ministry of Community Empowerment; Ahmed bin Lahej, Director-General of Customs and Ports Security at the Federal Authority for Identity, Citizenship, Customs and Ports Security; and Safeya Hashim Al Safi, Assistant Undersecretary for Control and Commercial Governance Sector at the Ministry of Economy and Tourism.
For further details, visit the source: www.emirates247.com.
Read all the latest developments and breaking updates in the Latest News section.
Published on 2026-06-04 00:39:00 • By the Editorial Desk
