Date: August 31, 2024
Source: https://www.financialadvisoriq.com/
Abu Dhabi: The UAE Cabinet has approved a new National Strategy to combat money laundering and terrorism financing, as announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, during a Cabinet meeting held at Qasr Al Watan in Abu Dhabi on Monday.
Sheikh Mohammed emphasized that the strategy aims to strengthen the UAE’s financial oversight, enhance transparency, and support investigations into money laundering activities. Key objectives include improving the transparency of “Real Beneficiary” procedures, preventing the misuse of legal entities, and increasing the production and use of financial information for investigations and prosecutions.
In addition to the strategy, Sheikh Mohammed also highlighted the significant economic growth achieved by the UAE in recent years. The number of companies in the country has surged to over 1 million, and foreign direct investment has reached a record high. The government’s proactive economic policies during and after the COVID-19 pandemic have played a crucial role in driving this growth.
For more details, please visit
