MoCD, UAE Financial Intelligence Unit to combat money laundering and terrorism financing in NPOs

Hessa bint Essa Buhumaid, Minister of Community Development, and Ahmed Ali Al Sayegh, Minister of State, the Ministry of Community Development (MoCD) announced establishing a joint mechanism between the Ministry and the UAE Financial Intelligence Unit (FIU) for the coordination of efforts to combat money laundering, financing of terrorist groups and illicit organisations in non-profit organisations (NPOs) sector.

The cooperation also facilitates the exchange of information on non-profit organisations with relation to cases of money laundering, financing of terrorist groups and illicit organisations, and to establish a secure electronic link for the purpose of exchanging information.

Nasser Ismail, Assistant Under-Secretary of Social Welfare at MoCD, stressed the Ministry’s keenness to integrate with the various regulatory authorities that are responsible for overseeing and monitoring UAE-based Non-Benefit Public Associations, as a confirmation on the commitment to international standards to combat money laundering, terrorist financing and proliferation of weapons as issued by the Financial Action Task Force (FATF), to ensure that no violations, errors or unacceptable practices occur in this framework.

He noted that the Ministry’s standards in this regard constitute a legal, legislative and supervisory basis for the authorities responsible for overseeing associations.

He added that the Ministry is very keen to work with all entities within the framework of introducing and raising awareness of the laws, regulations and legislations against money laundering and financing of terrorism, in order to promote safety and convenience of the controlling and regulating procedures for these associations, and motivate them towards more meaningful and positive community-wide development partnership.

Ali Faisal Ba’Alawi, Head of the FIU, stressed the importance of highlighting the UAE’s efforts and its keenness to combat money laundering, financing of terrorism and illicit organisations, in line with FATF standards.

Hs stated, “The Ministry of Community Development and the UAE Financial Intelligence Unit will cooperate with all concerned authorities that perform an active role in our economy and protect donors and their money from the risks of exploitation in financing terrorism and financing of illicit organisations, to enable effective enforcement of countering financial crimes of all kinds and forms.”

Hamed Al Zaabi, Director-General at the Executive Office of Anti-Money Laundering and Counter Terrorism Financing, stated, “As an essential part of our responsibility and deep commitment to effectively combating money laundering and terrorist financing, it is imperative that all our local institutions adhere to the highest standards of transparency. This joint announcement of the UAE Financial Intelligence Unit and the Ministry of Community Development is a new step towards strengthening and effectively implementing our national policies for social development, in support of the continuous development in the UAE.”


By Amjad Saleh, December 12, 2021, Published on WAM


Recent Posts