The UAE Ministry of Economy and Tourism announced that it has organised three workshops, in collaboration with the Dubai Chamber of Commerce, to strengthen anti-money laundering and countering the financing of terrorism compliance among Designated Non-Financial Businesses and Professions (DNFBPs). The sessions aimed to build practical capability in applying international good practices and to deepen collaboration with private-sector partners on transparency, integrity and supervisory expectations. The workshops, led by the Ministry’s AML/CFT Department, covered the Ministry’s role and the Financial Action Task Force’s role in national compliance, as well as national and sectoral money laundering and terrorism financing risks. Key topics included sanctions screening, name and high-risk country checks, applying different levels of customer due diligence, registration in the notification system, suspicious transaction reporting, common administrative violations, and procedures for appealing fines. Sector-focused sessions addressed compliance in real estate brokerage, the precious metals and precious stones and refining sector (including responsible gold sourcing and continuous monitoring), and auditing and corporate service providers (including screening and verification systems and managing relationships with high-risk jurisdictions).
Ministry of Economy (UAE) 2025-11-03
UAE Ministry of Economy and Tourism runs three workshops to raise AML CFT compliance across the DNFBP sector
The UAE Ministry of Economy and Tourism, with the Dubai Chamber of Commerce, organized workshops to enhance anti-money laundering and counter-terrorism financing compliance among Designated Non-Financial Businesses and Professions. The sessions focused on international best practices, transparency, and supervisory expectations, covering sanctions screening, customer due diligence, and sector-specific compliance in real estate, precious metals, and auditing.