UAE approves anti-money laundering law to combat terrorism financing

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October 30 2018

The UAE has approved an anti-money laundering law that will combat terrorism financing and a foreign investment law that will treat foreign companies as it does local companies.

President Sheikh Khalifa issued the two decrees.

“This decree is a fundamental pillar of anti-money laundering and countering the financing of terrorism, and contributes to raising the effectiveness of the legal and institutional framework of the nation to achieve desired results,” said Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance.