The UAE takes its role in protecting the integrity of the global financial system extremely seriously. This means actively administering and enforcing economic and trade sanctions. The UAE has the essential components of a sanctions compliance program in place, including engaging with the private sector to further promote understanding of, and compliance with, sanctions requirements.
The UAE government does not seek to comment on specific, or ongoing investigations. However, where the integrity of the UAE’s compliance commitments is called into question, or the UAE is wrongfully perceived to ignore apparent violations, we have a duty to respond.
The UAE confirms that a thorough and comprehensive investigation is fully underway into the three named entities. This includes using recent legislative changes (Cabinet Resolution no 58), designed to improve corporate transparency through a framework for reporting and registering beneficial ownership.
The scale and complexity of financial crime has increased. So too has the UAE’s awareness and understanding of it. That is why the UAE is committed to taking action. This is reflected in the high-level policy and political commitment to establish and operate a sophisticated financial crime compliance system.
This includes a shared objective across all UAE entities to prevent, detect, and deter illicit activity in the financial system. As part of this, we are improving the way we are sharing information across our financial sector and with law enforcement and government.
Related News
Abdullah bin Zayed receives phone call from Kuwaiti FM
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, received a phone call from Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Minister of Foreign Affairs of the sisterly State of Kuwait.
View Details
UAE Expresses Solidarity with Zimbabwe and Conveys Condolences over Victims of Capsized Ferry
The United Arab Emirates has expressed its sincere condolences and solidarity with the Republic of Zimbabwe over a capsized passenger ferry in Lake Kariba, which resulted in dozens of deaths, injuries, and missing people.
View Details
UAE leaders congratulate President of Indonesia on Independence Day
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Prabowo Subianto of the Republic of Indonesia on the occasion of his country's Independence Day.
View Details
UAE Expressed Solidarity with Poland and Conveys Condolences over Victims of Passenger Bus Crash
The United Arab Emirates has expressed its sincere condolences and solidarity with the Republic of Poland over the victims of a Polish passenger bus crash which occurred in Eastern Hungary, and resulted in a number of deaths and injuries.
View Details