That is the overarching message from the UAE government in response to the work of the Financial Action Task Force (FATF), the global watchdog on financial crime, which has put the Emirates under increased monitoring.
Minister of State Ahmed Al Sayegh said: “We are a country that respects the law”, adding “we are a country that wants to progress also in accordance with what the international community believes is right now and we want to be put in place, the systems and procedures for this”.
He explained that, “what the FATF wants to see is having really made sure the laws, which is the technical part that we've passed, have even got better."
"They are happy with the technical part. I think what we're talking about here is effectiveness.
Source: The National News
