European Union Removes UAE From List Of High -Risk Countries Of Money Laundering
The European Union removes the United Arab Emirates from the list of high -risk countries of money laundering.
The decision to remove the UAE from the list of money laundering high risk countries has been made on the recommendation of the European Commission. The European Commission has acknowledged significant improvement in the UAE laws and the regulatory system.
The Emirates Minister has said that the EU’s decision is acknowledged by the UAE’s efforts against global financial crimes.
According to the Emirates Agency for Anti -Money Laundering, legal and administrative reforms took strict action.
In addition, the European Union and the UAE have also agreed to the launch of a free trade agreement.
It should be noted that Fatef removed the United Arab Emirates from the gray list in February 2024.
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