Khalifa issues Federal Decrees

The President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Act No. 9 of 2014, amending some provisions of Federal Law No. 4 of 2002 on anti-money laundering.

According to a report in 'Al Bayan', the law states that a person is charged with money laundering if this person has knowledge that funds obtained was as a result of committing a felony, or a misdemeanor, or he had deliberately committed one of the following acts:

- Conversion or transferring, depositing, saving or investing or exchanging or managing those funds in order to conceal or cover its illicit source.
- Concealing or covering the fact and the source and location, or disposition, movement, rights and the ownership of this money. also both acquired or to use those funds.

The President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree on upgrading the positions of Mohammed bin Abdullah Mohammed bin Man'a Al Humairi and Mohammed Rashid Obaid Mohammed Al Zaabi, employees at the Court of Audit, to the position of Ministry Under-Secretary.

This honour comes in recognition of their efforts and continuing work of national cadres at the Court of Audit and contributions made by national elements to upgrade the level of audit work to serve the objective of maintaining public funds.

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