The European Union’s removal of the Emirates from a list of countries that pose a high risk for money laundering should take place sooner rather than later, the UAE's ambassador to the bloc said.
The National reported last month how the EU planned to remove the UAE from its list, after a drive in the Emirates to boost regulatory framework.
The UAE was removed from a similar list last year by the Financial Action Task Force, the global body that combats money laundering and terrorism financing.
"As one of the world’s fastest-growing economies, built on a resilient financial system, modern regulatory structures and an unambiguous commitment to sustainable growth, the UAE has demonstrated beyond any reasonable doubt that it has fully satisfied – and in many areas surpassed – the EU requirements for delisting," said Mohamed Alsahlawi, UAE ambassador to the EU, Belgium and Luxembourg, in a statement released on Wednesday by the Ministry of Foreign Affairs.
"A swift and decisive resolution to this matter is necessary to reflect both the facts on the ground and the strategic interests we share with our European partners. Only by resolving this issue can we unlock the true potential of the UAE-EU partnership, driving deeper co-operation, greater prosperity and shared security.
"Our robust regulatory frameworks, effective enforcement mechanisms, and proven track record in detection, prevention, and prosecution of financial crime are documented, verifiable and delivering real-world impact."
The UAE has made clear progress in combating money laundering and the financing of terrorism in recent years, issuing strict laws and introducing regulations to clamp down on such crime.
Last September, the UAE set out a nationwide action plan aimed at combating terrorism financing and money laundering. The 2024-2027 National Strategy for Anti-Money Laundering, Countering the Financing of Terrorism and Proliferation Financing features 11 goals focused on risk-based compliance, effectiveness and sustainability.
"The UAE has not only met its global obligations, we have exceeded them," said Mr Alsahlawi. "Our co-operation with EU institutions and member states is deeper, more operational, and delivering tangible results.
"Since 2022 alone, we have supported the EU with 167 extraditions, including 74 extradition decisions already issued, 30 of which [were] directly to France."
Ireland (15-1):
Ireland (15-1): Rob Kearney; Keith Earls, Chris Farrell, Bundee Aki, Jacob Stockdale; Jonathan Sexton, Conor Murray; Jack Conan, Sean O'Brien, Peter O'Mahony; James Ryan, Quinn Roux; Tadhg Furlong, Rory Best (capt), Cian Healy
Replacements: Sean Cronin, Dave Kilcoyne, Andrew Porter, Ultan Dillane, Josh van der Flier, John Cooney, Joey Carbery, Jordan Larmour
Coach: Joe Schmidt (NZL)
MORE ON IRAN'S PROXY WARS
THE NEW BATCH'S FOCUS SECTORS
AiFlux – renewables, oil and gas
DevisionX – manufacturing
Event Gates – security and manufacturing
Farmdar – agriculture
Farmin – smart cities
Greener Crop – agriculture
Ipera.ai – space digitisation
Lune Technologies – fibre-optics
Monak – delivery
NutzenTech – environment
Nybl – machine learning
Occicor – shelf management
Olymon Solutions – smart automation
Pivony – user-generated data
PowerDev – energy big data
Sav – finance
Searover – renewables
Swftbox – delivery
Trade Capital Partners – FinTech
Valorafutbol – sports and entertainment
Workfam – employee engagement
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Ruwais timeline
1971 Abu Dhabi National Oil Company established
1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants
1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed
1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.
1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex
2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea
2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd
2014 Ruwais 261-outlet shopping mall opens
2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies
2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export
2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.
2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery
2018 NMC Healthcare selected to manage operations of Ruwais Hospital
2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13
Source: The National
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UAE won by five wickets
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The%20BaaS%20ecosystem
MATCH INFO
Burnley 1 (Brady 89')
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Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
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Israel – $18 million
Venezuela – $17 million
Korea – $10 million
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USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
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2. They can be created when massive stars collapse under their own weight
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Transmission: 9-speed auto
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Killing of Qassem Suleimani
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The biog
Favourite film: Motorcycle Dairies, Monsieur Hulot’s Holiday, Kagemusha
Favourite book: One Hundred Years of Solitude
Holiday destination: Sri Lanka
First car: VW Golf
Proudest achievement: Building Robotics Labs at Khalifa University and King’s College London, Daughters
Driverless cars or drones: Driverless Cars
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Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
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Simon Waldman: Cautious Israel keeping a low profile
