National AML/CFT committee replaces executive office — all financial institutions — immediate
The UAE Cabinet has established a new National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee, which assumes all rights and obligations previously held by the Executive Office of the AML/CFT regime. Financial institutions and compliance teams must update their regulatory reporting channels and liaison points to reflect the new committee structure.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- Update your AML/CFT compliance procedures to reflect the new committee as the primary federal authority. Verify reporting channels, contact details, and submission protocols with the CBUAE. Ensure all staff involved in regulatory reporting are briefed on the change.
This Cabinet decision restructures the UAE's AML/CFT governance framework at the federal level. The new committee replaces the previous Executive Office entirely, inheriting all statutory functions, powers, and liabilities. Institutions subject to AML/CFT supervision must treat this as a material change to the regulatory authority landscape and ensure their compliance and reporting workflows are aligned with the new structure.
Source
“The UAE Cabinet has established a new National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee, which assumes all rights and obligations previously held by the Executive Office of the AML/CFT regime. Financial institutions and compliance teams must update their regulatory reporting channels and l…”
— Central Bank of UAE, 23 Sept 2024
Source: Central Bank of UAE — official 23 Sept 2024 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
Update your AML/CFT compliance procedures to reflect the new committee as the primary federal authority. Verify reporting channels, contact details, and submission protocols with the CBUAE. Ensure all staff involved in regulatory reporting are briefed on the change.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
23 Sept 2024.
Where can I read the original?
Read the original at Central Bank of UAE: https://www.centralbank.ae/en/news-and-publications/news-and-insights/press-release/per-uae-cabinet-decision-the-national-anti-money-laundering/
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