Today: 30 May 2025
28 October 2023
1 min read

FATF Onsite Visit to UAE Before February 2024

The UAE said it looks forward to welcoming the FATF assessment team to the UAE, and further demonstrating the enhanced and sustained effectiveness of our AML/ CFT framework.

The fourth Plenary of the Financial Action Task Force (FATF) under the Presidency of T. Raja Kumar of Singapore concluded in Paris, France. During the Plenary, FATF confirmed an on-site visit to the UAE will take place before February 2024.

Commenting on the FATF announcement, Ahmed Ali Al Sayegh, UAE Minister of State, said: “We welcome the FATF announcement that the UAE has officially been granted an on-site visit to verify the completion of its ICRG Action Plan. The UAE looks forward to welcoming the FATF assessment team to the UAE, and further demonstrating the enhanced and sustained effectiveness of our AML/ CFT framework. Cooperation with strategic international partners is critical to contributing to the global effort to detect and disrupt all forms of financial crime.”

Khaled Mohammed Balama, Governor of the Central Bank of the UAE (CBUAE) and Chairman of the UAE National Anti Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee, stated:

“The UAE takes its role in protecting the integrity of the global financial system extremely seriously. The increased resources and expertise we have put in place underpin the UAE’s continued commitment to combatting economic crime and disrupting illicit networks, both at home and abroad.”

Hamid AlZaabi, Director General of Executive Office of Anti-Money Laundering and Counter Terrorism Financing, added: “The FATF announcement today recognizes the efforts made by various UAE authorities to satisfy the Action Plan. We will continue to work with our partners and stakeholders to fulfil our long-term sustainable AML/CFT plan.”

ALSO READ: UAE President, World Bank Chief Discuss Global Economic Situation

Previous Story

Party Problems Cast Shadow on Nawaz’s 4th Term

Next Story

Dubai Hosts ‘Road to COP28’ for MENA Climate Action

Latest from -Top News

White House: Israel OKs Gaza Truce

Hamas said Thursday that its leadership had received a new Gaza ceasefire proposal from Witkoff through the mediators and was studying it…reports Asian Lite News The White House said that Israel has

Saudi backs India’s strategic outreach

In a series of engagements, the Indian delegation met Saudi Arabia’s Minister of State Adel Al-Jubeir and other senior officials. A high-profile Indian all-party parliamentary delegation, led by BJP MP Baijayant Jay

Iran pressed over 3 missing Indians

The embassy stated that it is maintaining close contact with the families and keeping them regularly updated about the steps being taken….reports Asian Lite News The Indian government has urged Iranian authorities

EU-UAE FTA talks amid US tariff pressure

Talks will also explore ways to boost trade in strategic sectors, such as renewable energy, green hydrogen and critical raw materials….reports Asian Lite News The European Union (EU) and the United Arab
Go toTop

Don't Miss

Global Village Opens With Unique Experiences

Global Village has significantly improved guest flow adding 2,500 sq

DXB back to normal operations

Dubai Airport has returned to its normal flight schedule and