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."
MATCH INFO
Champions League last 16, first leg
Tottenham v RB Leipzig, Wednesday, midnight (UAE)
England v South Africa Test series:
First Test: at Lord's, England won by 211 runs
Second Test: at Trent Bridge, South Africa won by 340 runs
Third Test: at The Oval, July 27-31
Fourth Test: at Old Trafford, August 4-8
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
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
UAE currency: the story behind the money in your pockets
More coverage from the Future Forum
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Scoreline
Man Utd 2 Pogba 27', Martial 49'
Everton 1 Sigurdsson 77'
