News
UAE Adopts National Strategy to Combat Money Laundering, Terrorism Financing
Published
2 weeks agoon
The United Arab Emirates (UAE) is dedicated to tackling money laundering and terrorism financing, and has adopted a national strategy for same. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, and Prime Minister of UAE said the strategy is a step toward ensuring sustainability of oversight on financial institutions and virtual assets service providers.
It reinforces the principles of governance and transparency in UAE’s economy. The strategy will also work toward increasing the production and use of financial information to support investigations in money laundering cases and prosecutions.
The new policy will also boost transparency of Real Beneficiary procedures, and prevent the misuse of legal entities and structures in the UAE.
UAE Witnesses Rapid Economic
The UAE is in the top 10 countries around the world in competitiveness indicators. It has recorded rapid economic growth and is fifth globally in terms of real GDP growth. Moreover, the United Arab Emirates saw a record Dh112 billion in foreign direct investment (FDI) in the past year. As such, its ranked second in the world, only after the United States.
Sheikh Mohammed said the Emirati government, since the coronavirus pandemic, has implemented 30 decisions, laws and economic policies power driving economic growth in the country. He said the government will continue to strengthen its economic future, to make it stronger and brighter.
Furthermore, the UAE has joined a global coalition called the ‘Nationally Determined Contributions Partnership’. This coalition works towards Sustainable Development Goals (SDGs) and develops essential tools for tackling climate change.
Sheikh Mohammed added that they are committed to using the country’s resources to serve the people, institutions, economy and their future.
Aliza is a promising member of the Trends section at The Gulf Independent. She has a flair towards observing the latest food, movie, fashion, culture, business, technology and other other trending topics - delivering strongly factual and reliable news every day. Interest: Aliza holds a deep interest in bringing the audience the most recent information and incisive analysis on a variety of trending developments across the GCC. She believes in giving facts and creativity the front seat, producing articles that encourage deep conversations. Educate and Experience: Aliza entered the promising media industry in 2019, as she graduated from the prestigious King Faisal University in Saudi Arabia in Master of Media. Over the years, the journalist has produced innumerable thought-provoking and breaking stories, based on accuracy and integrity. Email id: [email protected]
You may like
-
UAE deepens climate action as clean energy investments exceed Dh45 billion
-
Gold Price surges in UAE – Shoppers highlights Diamond Price Protection
-
2024 STEAM Festival in Riyadh pays tribute to ‘father of chemistry’ for pioneering contributions
-
Diplomacy in focus as UAE mediates eighth Russia-Ukraine prisoner exchange
UAE deepens climate action as clean energy investments exceed Dh45 billion
Gold Price surges in UAE – Shoppers highlights Diamond Price Protection
2024 STEAM Festival in Riyadh pays tribute to ‘father of chemistry’ for pioneering contributions
Diplomacy in focus as UAE mediates eighth Russia-Ukraine prisoner exchange
UAE and US share a burgeoning relationship in the evolving artificial intelligence field
Cristiano Ronaldo Hits 1 Bn Social Media Followers
Trending
-
Trends4 days ago
Qatar Charity Helps Sick People in Yemen with Big Heart and Kidney Operations
-
Uncategorized6 days ago
Your complete guide to Dubai Fitness Challenge 2024
-
Uncategorized1 week ago
Lana Nusseibeh stresses UAE’s constructive role in recent Sudan peace talks in Geneva
-
Trends1 week ago
UAE visa amnesty gives a Sri Lankan boy hope to finally go to school