The UAE Cabinet has issued a decision according to which The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) will replace the Executive Office of the Anti-Money Laundering and Countering the Financing of Terrorism.
All employees of the Executive Office shall be transferred to the former with Hamid Saif Al Zaabi named secretary-general of NAMLCFTC. The main aim behind this decision is to better manage and integrate communication and coordination at all local and federal levels as per the top officials.
This decision comes in accordance with Federal Decree Law No. (7) of 2024 amending some provisions of Federal Decree Law No. (20) of 2018 regarding Combating Money Laundering Crimes and Combating the Financing of Terrorism and the Financing of Illegal Organisations. The amendments included the establishment of a General Secretariat for the NAMLCFTC, headed by a Secretary-General, who will be Vice-Chairman and a member of the Supreme Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism.
