Emirates News Agency – UAE onsite visit confirmed during FATF Plenary in Paris

ABU DHABI, twenty seventh October, 2023 (WAM) — The fourth Plenary of the Monetary Motion Activity Drive (FATF) beneath the Presidency of T. Raja Kumar of Singapore concluded right this moment in Paris, France. In the course of the Plenary, FATF confirmed an on-site go to to the UAE will happen earlier than February 2024.

Commenting on the FATF announcement, Ahmed Ali Al Sayegh, UAE Minister of State, mentioned: “We welcome the FATF announcement right this moment that the UAE has formally been granted an on-site go to to confirm the completion of its ICRG Motion Plan. The UAE seems to be ahead to welcoming the FATF evaluation staff to the UAE, and additional demonstrating the improved and sustained effectiveness of our AML/ CFT framework. Cooperation with strategic worldwide companions is vital to contributing to the worldwide effort to detect and disrupt all types of monetary crime.”

Khaled Mohammed Balama, Governor of the Central Financial institution of the UAE (CBUAE) and Chairman of the UAE Nationwide Anti Cash Laundering and Combatting Financing of Terrorism and Financing of Unlawful Organisations Committee, said:

“The UAE takes its position in defending the integrity of the worldwide monetary system extraordinarily critically. The elevated assets and experience we’ve got put in place underpin the UAE’s continued dedication to combatting financial crime and disrupting illicit networks, each at house and overseas.”

Hamid AlZaabi, Director Basic of Government Workplace of Anti-Cash Laundering and Counter Terrorism Financing, added: “The FATF announcement right this moment acknowledges the efforts made by numerous UAE authorities to fulfill the Motion Plan. We are going to proceed to work with our companions and stakeholders to fulfil our long-term sustainable AML/CFT plan.”