FATF’s announcement reaffirms effectiveness of UAE’s AML/CFT framework: Chairman of ADDED

ABU DHABI: Ahmed Jasim Al Zaabi, Chairman, Abu Dhabi Department of Economic Development (ADDED), said that the resolution of the Financial Action Task Force (FATF) reaffirms the effectiveness of the UAE’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) framework.

He stressed that the FATF announcement acknowledges the efforts exerted by various UAE authorities, led by the Executive Office of Anti-Money Laundering and Counter Terrorism Financing, to meet the Action Plan requirements. ‘We remain committed to collaborating with our partners and stakeholders to fulfil our long-term sustainable AML/CFT strategy.’

As a leading International Financial Centre, Abu Dhabi recognises the importance of cooperating with strategic partners to contribute effectively to the global initiative in combatting all forms of financial crimes to pave the way to a thriving and sustainable socio-economic development, Al Zaabi explained.

‘Our conducive environment, abundant investment prospects, and robust poli
cies are attracting Foreign Direct Investments (FDIs) and significant players in various sectors to establish businesses and expand out of Abu Dhabi. Driven by key national financial and investment policies, we are ensuring fiscal sustainability and consolidation to achieve sustainable economic development and enhance global competitiveness,” the Chairman of ADDED concluded.

Source: Emirates News Agency