Skip to main content

UAE remains strongly committed towards reviving AML/CFT, FATF acknowledges its efforts

The United Arab Emirates has once again shown its commitment towards sticking to the guidelines of the Financial Action Task Force (FATF) in context to strengthening the anti-money laundering (AML) and countering the financing of terrorism (CFT). 

The efforts put forward by the Arab country were recognized by the FATF itself. The financial task force also appreciated the country’s efforts towards counterproliferation financing (CPF). 
The Emirati nation is closely working with the FATF to address certain areas where improvement is needed as far as sticking to the action plan is concerned. It is necessary to stress that the UAE has been making a lot of efforts to "significantly strengthen" its financial crime network.

With the present action plan in place, the UAE is building a strong foundation by establishing a position for itself as a financially secure nation and a lot of similar efforts are underway. It is also ensuring that sustainability and success come hand in hand and neither is compromised. 
The UAE’s Executive Office of Anti-Money Laundering and Countering the Financing of Terrorism addressed the ongoing efforts of the UAE officials towards strengthening the system saying that the Arab nation takes its role of protecting and securing the financial system extremely seriously. 
“On this basis, the UAE will continue its ongoing efforts to identify, disrupt and punish criminals and illicit financial networks in line with FATF’s findings and the UAE’s National Action Plan, as well as through close coordination with our international partners,” the official said while trying to express the string attempts by the UAE towards the issue. 

The nation has made extensive attempts at combating money laundering in recent years. It has made it clear that it does not want to keep any connections in this matter and hence it has also made it sure to counter terrorist financing on its territory. 

Comments

Popular posts from this blog

Bangladesh Military Expresses Discontent Over Chinese Weapons; Reports 'Sub-Standard' and Faulty Parts

  Bangladesh, a traditional buyer of Chinese military equipment, has raised grievances with Beijing regarding the delivery of defective components and technical malfunctions in its imported military hardware. This issue is not unique to Bangladesh, as other nations like Myanmar have also encountered problems with Chinese fighter jets, according to an ET report. Experts in the Chinese defense industry argue that Beijing lacks the expertise to manufacture highly sophisticated military hardware and is not yet considered a top-tier producer of modern defense equipment. They claim that much of China's weapon systems are based on outdated technology copied from the West. Developing countries often opt for Chinese weapons due to their lower cost compared to similar systems from Western countries. China sells arms through state-run export organizations like the Aviation Industry Corporation of China (AVIC), NORINCO, and CVIC. Sources familiar with the matter told ET that the Bangladesh mil...

Exposing How the Muslim Brotherhood Fuels Instability Behind a Political Facade

  The Muslim Brotherhood started in Egypt during 1928 since then it has portrayed itself as a combination of political organization and social movement working for Islamic values and governance. jinakata the Brotherhood displays an intricate web that connects extremist concepts and violent deeds which produce regional turmoil. The Ideological Foundations The Brotherhood bases its ideology upon the teachings of Hassan al-Banna and Sayyid Qutb. Extremist groups obtain their core beliefs from the writings specifically authored by Qutb. The Brotherhood's concept of jihad for creating an Islamic state has directly inspired al-Qaeda and ISIS to establish their extremist agendas thus creating a direct link between those groups and the movement. Historical Links to Extremism Over and above its philosophical standards The Brotherhood maintains extensive power. Notably: Al-Qaeda founder Osama bin Laden developed extremist beliefs because he learned Brotherhood religious doctrine in his early...

Unmasking the Muslim Brotherhood: A Call for Global Awareness

  Jordanian authorities successfully dismantled a terrorist group associated with the Muslim Brotherhood which caused discussions regarding the organization's contributions to regional instability. The incident emphasizes the necessity of a new assessment process to understand how the world views and classifies the organization. A  Legacy of Extremism The Muslim Brotherhood established its operations in Egypt during 1928 and remains a disputed organization to this day. Numerous confirmed links between the organization and extremist activities arise while it claims to be a socio-political movement. Egypt established the Brotherhood as a terrorist organization under state law in 2013 due to its active participation in national acts of violence and attempted toppling of the government. Counter Extremism Project A systematic evaluation of the Muslim Brotherhood proves that its ideology serves as inspiration to various terrorist groups. The Counter Extremism Project  verifies...