The NAMLCFTC inaugurated its second discussion on March 4 2021 and approved countermeasures that selected organizations and recognized non-financial businesses must implement in dealing with red-zone countries. These actions will be published on the platform of the NAMLCFTC and other administrative authorities to make sure distribution and progress by authorised entities.
Abdelhamid M. Saeed Alahmadi, Governor of the Central Bank of the UAE and Chairman of the NAMLCFTC arranged a meeting to talk about the latest developments in controlling money laundering and CFT in the UAE.
The committee saw a great improvement done by various federal entities on the implementation of several actions envisioned in the United Arab Emirate (UAE) National Agenda for AML and CFT and concluded on additional actions.
The NAMLCFTC approved the original edition of the National Manual of Monetary Intelligence and Money Laundering Investigation, and settled the review duration on a periodical basis.
The standard aims to accomplish the purposes of the national strategy on AML and CFT by adopting a centralised national strategy. Moreover, the laws associated with providers of corporate services and trusts; their activities, companies and transactions were also examined and accepted.
Talking on the event, Alahmadi said, “As the United Arab Emirate is a global financial hub, we are authorised to undertake all important actions and execute them to enhance the anti-money laundering and countering the financing of terrorism with a robust technology framework and procedures, discuss anti-money laundering and CFT and implement efficient solutions to reduce similar risks that can face our national economy.” – WAM.
