Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and International Co-operation, on Monday chaired a meeting of the Higher Committee that oversees the National Strategy on Money Laundering and Countering Terrorism Financing (AML/CFT).
Members of the committee reviewed the progress in implementing the country's action plans to fight financial crimes, according to the state news agency Wam. They also discussed future plans to combat AML/CFT and were briefed on the UAE's Mutual Evaluation Report (MER) by the Paris-based Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog.
The committee was briefed on the outcome of the first follow-up meeting on the UAE, which had requested a “re-evaluation of its compliance” to the four technical recommendations from the Middle East and North Africa office of FATF.
The UAE received preliminary approval to end the evaluation of all target recommendations from Mena FTAF, which is an “achievement and affirms the country’s serious efforts to develop its anti-money laundering and financing of terrorism system”, Wam reported.
Obaid Humaid Al Tayer, Minister of State for Financial Affairs; Hessa Buhumaid, Minister of Community Development; Abdullah bin Touq Al Marri, Minister of Economy; Ahmed Ali Al Sayegh, Minister of State, and Khaled Al Tameemi, governor of the Central Bank of the UAE, also attended the meeting along with senior government officials.
Earlier on Monday, the CBUAE said the National Committee for Combating Money Laundering and Financing of Terrorism and Illegal Organisations (NAMLCFTC) approved six-risk assessment reports in addition to guidelines for financial institutions, designated non-financial businesses and professions at its third meeting of the year.
The reports relate to terrorism financing, trade-based money laundering, misuse of legal persons, non-profit organisations, lawyers and the gold sector.
They will help "align the legislative and operational frameworks and priorities with the current risks and enhance understanding of risks and to boost cooperation among the competent authorities", the central bank said in a statement.
The UAE has strict laws to deal with money laundering and the financing of terrorism. The country launched a new agency to combat money launderers and those suspected of financing terrorists and organised crime earlier this year.
In November, the ministry of economy also set up an AML department to ensure all non-financial businesses and professionals comply with local laws. In addition, a court was set up in Abu Dhabi to tackle money laundering and tax evasion cases.
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Celta Vigo 2
Castro (45'), Aspas (82')
Barcelona 2
Dembele (36'), Alcacer (64')
Red card: Sergi Roberto (Barcelona)
ENGLAND WORLD CUP SQUAD
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jos Buttler (wicketkeeper), Tom Curran, Joe Denly, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
Armies of Sand
By Kenneth Pollack (Oxford University Press)
if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
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Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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