Abu dhabi: H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, chaired the 23rd meeting of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering, Countering the Financing of Terrorism and Countering Proliferation Financing.
According to Emirates News Agency, Sheikh Abdullah affirmed the UAE's commitment to an integrated and effective national system for combatting financial crimes by enhancing legislative, supervisory, and enforcement frameworks, as well as advancing international partnerships. He commended the national system's efficiency and resilience in implementing priorities under the National Strategy (2027-2024) despite regional challenges, emphasizing the UAE's role as a trusted global partner in tackling financial crime.
During the meeting, the Higher Committee approved the 2025 performance indicators for the national system, aimed at strengthening the measurement of its effectiveness. Hamid Al Zaabi, Secretary-General and Vice Chairman of the National Committee, highlighted significant progress in areas such as risk understanding, international cooperation, supervision, transparency, and financial investigations. Key indicators included 781 inspections of financial institutions and virtual asset service providers, with penalties totaling AED384 million, and 8,900 inspections of designated non-financial businesses and professions, resulting in penalties of AED160.33 million. Furthermore, the report noted an increase to 516 in incoming mutual legal assistance requests, and 56 recorded terrorist financing investigations over the past year.
The meeting also reviewed developments related to the joint mutual evaluation process by the Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF). Discussions focused on the preparation of national teams to ensure alignment with international standards and effectiveness requirements. Additionally, the Committee was briefed on training programs designed to enhance the capabilities and readiness of teams involved in the anti-money laundering and counter-terrorism financing efforts.
The meeting, conducted via remote video conference, included attendance from several ministers and high-ranking officials such as Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Shamma bint Suhail Al Mazrui, Minister of Community Empowerment; Ahmed Ali Al Sayegh, Minister of Health and Prevention; Abdulla bin Touq Al Marri, Minister of Economy and Tourism; and Abdullah Sultan bin Awad Al Nuaimi, Minister of Justice, among others.