The UAE will host Expo 2020!
  • Arabic
Supported by the UAE National Media Council
We are in the process of developing and improving our website, and we invite you to participate in our brief survey to measure the level of your satisfaction
Satisfaction Survey For UAE Interact Website
رغبة منا بالتعرف على مستوى رضاكم عن موقعنا وبهدف تطويره وتحسينه، فقد قمنا بتصميم استبيان سريع لقياس مدى الرضا عن موقع دولة الإمارات العربية المتحدة روعي في تصميم الاستبيان أن يكون قصيرا وسريعا كي لا نطيل عليكم، وعليه نرجو منكم التكرم باستكماله عن طريق الرابط التالي
استبيان رضا المتعاملين عن موقع دولة الإمارات العربية المتحدة

Suwaidi calls for international co-operation against money laundering

posted on 22/09/2003: 1519 views

Money laundering is a "world-wide problem" and "defeating these criminals requires a united approach from every element of the international community, the UAE's Central Bank Governor said yesterday. Western Governments and international organizations also needed to improve the flow of Western governments and international organizations also needed to improve the flow of information to smaller states and tougher action had to be taken to deal with drug dealers and takers in the West, the Governor, Sultan Bin Nasser Al-Suwaidi said in a statement issued here on the sideline of the IMF/WB annual meeting.

Suwaidi said that if governments did not work together, the international anti-money laundering effort would be less effective. Those jurisdictions which had yet to meet the standards of the Financial Action Task Force standards "need assistance not condemnation. The time for naming and shaming these countries is past. We need to help them establish the right laws and controls," he said. The Governor pointed out that smaller states were often criticized for acting slowly but "often this happens because leading countries and organizations are themselves slow in passing on information to us."

He also called on western governments to take tougher action against drug dealers, drug takers, and those states where drugs are produced. "The UAE, for example, is not a source of money laundering - strong laws ensure that drug taking is not a problem in this country," he said. He said that the UAE government had introduced the necessary laws, regulations, and procedures, which enable it to play a prominent role in the campaign against money laundering and terrorist finance. Controls have also been tightened up on the Hawala system. (The Emirates News Agency, WAM)


26 January 2017 UAE Anti Money Laundering and Suspicious Cases Unit signs cooperation MoU with Egyptian counterpart
16 June 2013 NAMLC discusses report on of legal, regulatory, supervisory and corporate framework enhancement for anti-money laundering
30 May 2013 UAE to tighten disclosure law
21 March 2013 National Anti-Money Laundering Committee holds first meet for 2013
15 July 2012 UAE steps up fight vs. money-laundering

Most Read