The UAE has redoubled its commitment to international efforts to combat money laundering and the financing of terrorism.
Amna Fikri, director of the economic and trade affairs department at the Ministry of Foreign Affairs and International Co-operation, told European officials this week that the "fight against financial crime has been elevated to the highest level of strategic priority" for the government.
"Organised crime and systemic corruption – two global, not local, phenomena – drive financial crime in the world. Recognising their signs can be challenging," she said. "Calling them out and stating their role in the financial crime chain is critical for us. By working together at an international level, we are better placed to identify and make meaningful efforts locally."
She said the UAE has been working to improve its monitoring of banks, exchange houses and informal networks that make remittances possible. It is also ensuring that authorities have the ability to analyse and disclose company ownership information, including to counterparts abroad.
"We also view making certain information available to the public as an important step in reducing the dangers of financial crime," said Ms Fikri.
Customs officials and law enforcement authorities are carrying out both random and targeted inspections within the gold and precious metals trade.
There is also a particular focus to ensure that criminals do not exploit the UAE's large volumes of trading activity for money laundering and sanctions evasion purposes, she said.
"Mutual co-operation is essential and remains key to our future collective success. The challenge and scale of the problem ahead demands it."
Last year, a dedicated office within the Ministry of Foreign Affairs and International Co-operation to confront money laundering was approved. The Ministry of Economy set up an anti-money laundering department to oversee compliance with local laws. In addition, a dedicated court to tackle money laundering and tax evasion was established in Abu Dhabi. Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, oversees the national strategy for anti-money laundering and countering terrorism financing.
On Monday and Tuesday, Ms Fikri and other UAE officials from the Ministry of Foreign Affairs and International Co-operation, Ministry of Interior, the Ministry of Justice, the Central Bank, and the Federal Customs Authority, participated in an online anti-money laundering and financial crime workshop with judicial and law enforcement authorities from the European Commission and EU countries. This was their third meeting after workshops took place in September and December 2019.
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
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
Killing of Qassem Suleimani
World Cup warm up matches
May 24 Pakistan v Afghanistan, Bristol; Sri Lanka v South Africa, Cardiff
May 25 England v Australia, Southampton; India v New Zealand, The Oval
May 26 South Africa v West Indies, Bristol; Pakistan v Bangladesh, Cardiff
May 27 Australia v Sri Lanka, Southampton; England v Afghanistan, The Oval
May 28 West Indies v New Zealand, Bristol; Bangladesh v India, Cardiff
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
TUESDAY'S ORDER OF PLAY
Centre Court
Starting at 2pm:
Elina Svitolina (UKR) [3] v Jennifer Brady (USA)
Anastasia Pavlyuchenkova (RUS) v Belinda Bencic (SUI [4]
Not before 7pm:
Sofia Kenin (USA) [5] v Elena Rybakina (KAZ)
Maria Sakkari (GRE) v Aryna Sabalenka (BLR) [7]
Court One
Starting at midday:
Karolina Muchova (CZE) v Katerina Siniakova (CZE)
Kristina Mladenovic (FRA) v Aliaksandra Sasnovich (BLR)
Veronika Kudermetova (RUS) v Dayana Yastermska (UKR)
Petra Martic (CRO) [8] v Su-Wei Hsieh (TPE)
Sorana Cirstea (ROU) v Anett Kontaveit (EST)
Stage results
1. Julian Alaphilippe (FRA) Deceuninck-QuickStep 4:39:05
2. Michael Matthews (AUS) Team BikeExchange 0:00:08
3. Primoz Roglic (SLV) Jumbo-Visma same time
4. Jack Haig (AUS) Bahrain Victorious s.t
5. Wilco Kelderman (NED) Bora-Hansgrohe s.t
6. Tadej Pogacar (SLV) UAE Team Emirates s.t
7. David Gaudu (FRA) Groupama-FDJ s.t
8. Sergio Higuita Garcia (COL) EF Education-Nippo s.t
9. Bauke Mollema (NED) Trek-Segafredo s.t
10. Geraint Thomas (GBR) Ineos Grenadiers s.t
Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
