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FATF UAE Mutual Evaluation and NAMLCFT Committee
In April 2020, the international Financial Action Task Force (FATF) issued a Mutual Evaluation Report (MER) on the UAE’s AML/CFT measures. The assessment was conducted in 2019. The MER analyzed the UAE’s compliance with FATF 40 recommendations. It also analyzed the effectiveness of the UAE’s AML/CFT system. Thereby, providing recommendations on strengthening the system. It […]
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Dealers in Precious Metals and Stones
Dealers in Precious Metals and Stones in UAE
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UAE Decree Federal Law and Executive Regulation
Federal Decree No. (20) of 2018 is a fundamental pillar of the UAE’s AML/CFT efforts. This Decree stipulated the establishment of: As implemented by Cabinet Decision No. (10) of 2019, Federal Decree No. (20) of 2018 has raised the effectiveness of the AML/CFT legal and institutional framework of the nation, in line with FATF requirements […]
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AML CFT Supervision by the CBUAE
The CBUAE established a dedicated department in August 2020 to handle all Anti-Money Laundering and Combatting the Financing of Terrorism matters (AML/CFT), which the Banking Supervision Department handled previously. The Anti-Money Laundering and Combatting the Financing of Terrorism Supervision Department (AMLD) serves three key objectives: Through AMLD, the CBUAE coordinates closely with the UAE’s National […]