A yacht sails off the beach of Dubai Marina, in the United Arab Emirates. (Credit: AFP)
It is a victory for the Emirati federation. On Wednesday, July 9, the European Parliament rejected four resolutions objecting to the updated list of countries and territories at high risk of money laundering and terrorist financing (ML/TF). Proposed by the European Commission in June, the removal of Abu Dhabi from this list, where it had been added in March 2023, is thus confirmed. The European list aligns Brussels' position with that of the Financial Action Task Force (FATF), which had already removed the federation from its gray monitoring list in February 2024.The removal of the United Arab Emirates (UAE) from the European Union’s (EU) high-risk list paves the way for streamlined financial exchanges with Europe, reduces compliance costs for banks, and fosters renewed confidence among international investors. According to...
It is a victory for the Emirati federation. On Wednesday, July 9, the European Parliament rejected four resolutions objecting to the updated list of countries and territories at high risk of money laundering and terrorist financing (ML/TF). Proposed by the European Commission in June, the removal of Abu Dhabi from this list, where it had been added in March 2023, is thus confirmed. The European list aligns Brussels' position with that of the Financial Action Task Force (FATF), which had already removed the federation from its gray monitoring list in February 2024.The removal of the United Arab Emirates (UAE) from the European Union’s (EU) high-risk list paves the way for streamlined financial exchanges with Europe, reduces compliance costs for banks, and fosters renewed confidence among international investors. According to...
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