UAE ESTABLISHES EXECUTIVE OFFICE TO COMBAT MONEY LAUNDERING

  • 24/02/2021

The United Arab Emirates (UAE) Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the establishment of the Executive Office of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).

According to reports, the Executive Office will oversee the implementation of the UAE's National AML/CFT Strategy and National Action Plan (NAP), the programme of reforms designed to strengthen the country's anti-financial crime system .

Hamid Al Zaabi has been officially appointed as the Director-General of the Executive Office of the UAE, who will report directly to the Higher Committee overseeing the UAE's National AML/CFT Strategy, chaired by Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation.

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