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21 April 2024

UAE President honours Higher Committee Overseeing National Strategy on Anti-Money Laundering and Counter Terrorism Financing

Published
By WAM

His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President, awarded His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, the Order of the Union, and awarded committee members, other Ministers, and senior officials the Order of Zayed II First Class, in recognition of the committee's pivotal achievement in the UAE's removal from FATF’s list of “Jurisdictions under Increased Monitoring”. FATF is an international organisation dedicated to combating money laundering and terrorist financing.

During the meeting at Qasr Al Bahr in Abu Dhabi in the presence of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, His Highness the President congratulated committee members on this success and expressed his appreciation for the significant efforts that contributed to achieving this milestone.

This decision enhances the country's global reputation, strengthens confidence in its financial system and national framework for combating money laundering and terrorism financing, and serves its strategic plans to establish commercial and economic partnerships with other countries across the world.

His Highness affirmed that this success is the culmination of the efforts of many entities to develop the nation’s plans to combat money laundering and terrorism financing, commending the roles and cooperation of teams from Ministries, federal and local government agencies, and the private sector, all of which contributed to achieving national objectives in this area.

His Highness underlined that the UAE is committed to enhancing its competitiveness and establishing itself as a premier financial centre and preferred destination for business and investment. As a responsible member of the international community, His Highness stated, the UAE steadfastly combats money laundering and actively works to eliminate funding channels for terrorism.

His Highness added that the UAE will continue to work in cooperation with its partners and concerned entities worldwide to combat financial crime and support best practices in this regard, to enhance the global financial and trade system and serve shared interests.

For their part, the officials expressed their pride for this recognition by His Highness the President, expressing their appreciation and affirming their continued commitment to serving the nation and enhancing its position on the international stage.