UAE NAMLCFTC Welcomes European Parliament's Recognition Of Effective AML/CFT Framework

The European Parliament has decided to remove the UAE from its list of high-risk third countries under enhanced monitoring for anti-money laundering and counter-terrorism financing. This decision highlights the UAE's effective national strategy and robust institutional framework in recent years. The General Secretariat of the UAE’s National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) welcomed this development.

The UAE has shown a strong political commitment by adopting international standards set by the Financial Action Task Force (FATF). The country is continuously enhancing its legislative and regulatory systems to align with global trends. These efforts aim to protect both national and global financial systems from emerging threats. The General Secretariat of NAMLCFTC emphasised these ongoing improvements.

Efforts have been made to build an effective national coordination framework, leading to increased international cooperation. This has resulted in seizing illicit assets, extraditing individuals wanted internationally, and improving capacity-building in areas like anti-money laundering. The General Secretariat noted these achievements as part of the UAE's comprehensive approach.

The General Secretariat praised H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, for his diplomatic efforts. These efforts were crucial in reaching this significant milestone. The Secretariat also highlighted that this achievement reflects the UAE’s wise leadership and strategic vision in creating a secure financial system aligned with international standards.

This decision by the European Parliament is a result of extensive national efforts led by UAE institutions. It shows the international community's trust in the UAE's ability to meet global commitments through transparency, accountability, and adherence to the rule of law.

Role of Private Sector Institutions

The General Secretariat acknowledged private sector institutions as vital partners in this success. Their dedication to raising compliance standards has strengthened the business environment and built trust with international partners. This collaboration is seen as essential for maintaining high compliance levels.

The Secretariat reaffirmed the UAE’s commitment to a strategic approach that aligns with national priorities while integrating into the global economy. This includes advancing partnerships based on mutual respect and shared responsibility.

This development marks another step forward for the UAE, reinforcing its position as a reliable partner in global financial security efforts.

With inputs from WAM