MoFAIC, US Treasury deleg. discuss combatting money laundering

During the visit, Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, held discussions with Ahern and the Chair of the Higher Committee Overseeing the National Strategy on AML/CFT.

Ahern also had an opportunity to engage in meetings with Ahmed Al Sayegh, Minister of State, Khaled Mohamed Balama Al Tameemi, Governor of the Central Bank, and senior officials from UAE supervisory and regulatory agencies.

During these meetings, UAE officials updated the US Treasury delegation on the various initiatives and advancements taken by the UAE to improve the effectiveness of its AML/CFT regime, including the establishment of the Executive Office for AML-CFT and the ongoing work of the National Committee for AML/CFT.

Discussions broadly focused on the UAE’s initiatives and advancements to improve its AML/CFT regime and the work being undertaken by the six AML/CFT National Sub-Committees, including: - An overview of the UAE’s AML/CFT National Strategy (2020-2023).

The eighth United States-UAE Economic Policy Dialogue, co-chaired by MoFAIC’s Assistant Minister for Economic and Trade Affairs Abdulnasser Alshaali and the US Acting Assistant Secretary of State for Economic and Business Affairs Peter Haas, took place in Washington D.C. on 8 June 2021. During the meeting, UAE and US officials discussed the progress made by the UAE towards enhancing the effectiveness of its AML/CFT policy framework.

The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, established the Executive Office of the Anti-Money Laundering to oversee the implementation of the UAE’s National AML/CFT Strategy and National Action Plan (NAP), the program of reforms designed to strengthen the UAE’s anti-financial crime system.