Photo Credit: WAM
Dubai, UAE — March 2026 — In a concerted push to fortify the nation’s financial defenses, the Ministry of Economy and Tourism, in collaboration with the Ministry of Justice, convened the first forum of 2026 dedicated to enhancing Anti-Money Laundering compliance among Designated Non-Financial Businesses and Professions.
Held at the Ministry of Justice headquarters in Abu Dhabi, the event brought together private-sector representatives and anti-money laundering and combating the financing of terrorism specialists.
According to the Emirates News Agency, the forum forms a critical part of the ongoing implementation of the UAE’s national AML/CFT strategy framework, aiming to tighten oversight across a sector that includes real estate brokers, dealers in precious metals and stones, independent accountants, corporate service providers, and legal professionals.
The initiative aligns with international best practices designed to safeguard the financial system from illicit exploitation, further reinforcing the UAE’s global standing in financial integrity.
The forum featured panel discussions and presentations focused on the practical application of AML legislation. Sessions underscored the importance of conducting robust customer due diligence and raised awareness among private-sector entities regarding the critical need to report suspicious financial activities.
Counsellor Salem Ahmed Al Tunaiji, director of the AML/CFT Department at the Ministry of Economy and Tourism, affirmed the Ministry’s commitment to an integrated compliance framework.
He highlighted the role of cutting-edge technologies and advanced digital infrastructure in ensuring efficient monitoring and oversight of the DNFBP sector.
“These efforts have contributed to strengthening confidence in the country’s business environment and safeguarding the reputation of the national economy at both regional and international levels,” Al Tunaiji stated.
Abdullah Al Rashid, director of the Anti-Money Laundering and Counter-Terrorism Financing Department at the Ministry of Justice, emphasized the shared responsibility of DNFBPs.
He noted that these professions must implement robust controls for reporting suspicious activities and conducting customer identification in line with global standards.
“The Ministry of Justice and the Ministry of Economy and Tourism remain committed to further enhancing understanding of regulatory requirements within these sectors… thereby reinforcing a culture of compliance as a core element of regulatory and operational responsibilities,” Al Rashid added.
The forum’s inaugural session, attended by both Al Tunaiji and Al Rashid, presented an integrated vision for supervisory authorities. It highlighted the necessity of collaborative efforts among government entities to strengthen oversight through robust legislative frameworks, effective information exchange, and continuous coordination with the private sector.
A subsequent session detailed the outcomes of the UAE National Risk Assessment, providing a comprehensive overview of money laundering and terrorism financing challenges, particularly within DNFBPs. The assessment was highlighted as a crucial tool for unifying efforts, determining priorities, and developing risk-based regulatory frameworks to protect the national financial system.
Further discussions focused on the technicalities of customer due diligence, emphasizing the need for entities to verify customer and beneficial owner identities and assess risks throughout the business relationship.
The forum also candidly addressed challenges in implementing these requirements, including limited resources, the need for enhanced expertise, gaps in legislative understanding, and reliance on manual processes.
The event concluded with a presentation by the Ministry of Economy and Tourism on the practical methodology of mutual evaluations conducted by the Financial Action Task Force and the Middle East and North Africa Financial Action Task Force.
The review analyzed the UAE’s technical compliance with FATF recommendations and assessed the practical outcomes for the national financial system, offering key recommendations to achieve the highest levels of compliance and transparency.
