This decision aligns with Federal Decree Law No. (7) of 2024, amending provisions from Federal Decree Law No. (20) of 2018 regarding combating money laundering and terrorism financing. The amendments include the establishment of a General Secretariat for the NAMLCFTC, led by a Secretary-General who will serve as Vice-Chairman and a member of the Supreme Committee overseeing the National Strategy on Anti-Money Laundering.
H.E. Khaled Mohamed Balama, Governor of the Central Bank and Chairman of the NAMLCFTC, emphasized that this decision reflects the UAE’s commitment to maintaining the integrity of both local and global financial systems and combating financial crimes. He noted that the integrated approach will strengthen national frameworks, enhance local and federal coordination, and improve international partnerships in the fight against money laundering and terrorist financing.
Balama added that the initiative aims to build a sustainable economy capable of managing financial crime risks, ultimately enhancing the UAE’s competitiveness as a global financial hub.
Source : www.centralbank.ae
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