The UAE has updated its Combating the Financing of Terrorism and Illegal Organizations (CFT) Law and its anti-money laundering (AML) regulations with a new federal decree-law.

The UAE's anti-money laundering regulations are continuously working and improving the legal and regulatory framework in the fight against financial crimes, and this action is a part of that effort. The recently proposed revisions aim to reinforce the legal frameworks that assist the country's authorities in their fight against financial crimes and guarantee the United Arab Emirates' compliance with international guidelines and agreements.

This legislative change is in line with the UAE's overarching national policy, which attempts to protect the regional financial ecosystem by putting cutting-edge controls in place to prevent dangers to the economy posed by illicit financial activity. Two new oversight bodies, the Supreme Committee for the Oversight of the National Strategy for Anti-Money Laundering and Counter-Terrorism Financing and the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations, have been established as part of the decree, which has several important provisions. The UAE Cabinet's decisions will establish both committees.

According to the order, the Supreme Committee will be in charge of keeping an eye on and assessing the success of the tactics used by the National Committee. This entails establishing the essential procedures and standards for adherence and making pertinent rulings to guarantee the effective implementation of anti-money laundering and counterterrorism funding programs. In addition, the regulation requires improved coordination between the National Committee and pertinent organizations to guarantee all-encompassing assistance and efficient operations in carrying out its responsibilities.