UAE successfully completes FATF recommendations

Shutterstock [For illustration]

The global body in charge of combatting money laundering and terrorism financing has announced the UAE's completion of all 15 recommendations of its action plan.

The Financial Action Task Force (FATF), which made the announcement following its plenary meetings, held from February 19-23 in Paris, congratulated the UAE on this achievement.

"This success is the outcome of significant and distinguished efforts by relevant ministries, the federal government and local entities," said Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs and Chairman of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism.

"The country is committed to consolidate its unwavering approach and position within the world’s financial system, by fully enforcing and adhering to, all relevant international laws and conventions that serve to safeguard the integrity of the global financial system," he added.

Sheikh Abdullah expressed his gratitude and appreciation to the teams working within the ministries, federal government and local entities, the private sector, and all the relevant bodies, along with all those who contributed to the national strategy and action plan.

He underscored that this file is a strategic priority for the UAE, and commended national entities that collaborated to accomplish this milestone.

 

More from UAE