The United Arab Emirates successfully completes the FATF recommendations

He Financial Action Task Force (FATF), the international organization in charge of combating money laundering and the financing of terrorism, has announced the completion by the United Arab Emirates (UAE) of the 15 recommendations of its action plan and has congratulated the UAE on this achievement. The announcement was made following the FATF plenary meetings, held between February 19 and 23 in the French capital, Paris.

On this occasion, His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Chairman of the Higher Committee that oversees the national strategy against money laundering and financing of terrorism, said: “This success is the result of significant and outstanding efforts of the relevant ministries, the federal government and the entities local. These collective efforts serve to accelerate the national strategy and action plan, achieve the directives and aspirations of the UAE leaders, with the aim of further strengthening the country's leadership status and competitiveness, and advance its position through world level as an economic, commercial and investment center.

His Highness added: “The UAE economy is one of the fastest growing in the world. The country is committed to consolidating its unwavering focus and position within the global 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.”

His aza highlighted: “The UAE will continue to build on its immense success through comprehensive and integrated collaborations with international partners, as well as relevant organizations and entities to enhance its position within the global financial system. This will include continuing to strengthen a legal framework and regulatory framework, and activate collective efforts on a global scale to combat financial crimes. In this regard, the country's efforts demonstrate a consistent approach to address global money laundering and terrorist financing, as well as illegitimate organizations, and to amplify the crucial and effective role of the United Arab Emirates in upholding the security and stability of the global financial system.”

His Highness underlined that this file is a strategic priority for the UAE and praised the national entities that collaborated to achieve this milestone, which reflects the nation's distinctive position both regionally and internationally.

ABDULLAH BIN ZAYED AL NAHYAN
CHANCELLOR OF THE UNITED ARAB EMIRATES