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UAE Hits Milestone with EU Delisting From High‑Risk Financial Watchlist

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Arabian Post Staff -Dubai

European Parliament approved the removal of the United Arab Emirates from its “high-risk third countries” list for money laundering and terrorist financing, a decision aligned with its earlier removal by the Financial Action Task Force in February 2024 and marking a pivotal regulatory victory. This shift reduces the compliance burden on trade and financial flows, enhancing Abu Dhabi’s ambitions to deepen ties with Brussels and attract global investors.

Parliament’s vote endorsed the European Commission’s update to the list, which also saw the UAE’s delisting alongside jurisdictions like Gibraltar, Barbados and Panama, while new entries such as Monaco and Kenya were added. The move followed intense technical dialogue between Emirati authorities and EU institutions, satisfying the bloc’s concerns with enhanced cooperation on financial intelligence sharing and asset recovery.

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Mohamed bin Hadi Al Hussaini, the Minister of State for Financial Affairs, described the decision as a “strategic milestone” that underscores global recognition of the UAE’s robust framework. He emphasised that this represents a shift toward positioning the UAE as a transparent, resilient and globally trusted financial centre – a foundation for attracting sustained investment.

These reforms follow a sweeping crackdown on non-compliance, with over AED 339 million in fines levied by the Central Bank on exchange houses, banks and insurers. The fines were part of a wider national strategy enacted under Federal Decree‑Law 20/2018 and its amendments, stretching regulatory oversight to real estate, precious metals, auditing and digital asset sectors.

Hamid Saif Al Zaabi, Secretary‑General of the National Anti‑Money Laundering and Combating the Financing of Terrorism Committee, told WAM that the EU’s removal affirms successful system‑wide integration across public and private sectors. He described the outcome as the result of a sustained national strategy dating back to 2014, supported by Cabinet-approved action plans and ongoing capacity‑building initiatives.

Despite commendations for its progress, Transparency International cautioned that delisting should not be interpreted as full clearance. The organisation noted persistent challenges in real estate safeguards and oversight of politically exposed persons, calling for ongoing vigilance and structured dialogue.

Financial experts note that removal from the EU’s list could yield significant economic dividends. The International Monetary Fund estimates capital inflows may surge by as much as 7.6 per cent of GDP, with foreign direct investment potentially rising by around 3 per cent. Gulf region analysts view delisting as unlocking smoother trade with Europe across sectors such as renewable energy, fintech and digital infrastructure.

Diplomatic messaging framed the delisting as a mutual strategic victory. UAE Minister Ahmed bin Ali Al Sayegh called it “independent recognition” of Abu Dhabi’s dedication to high international standards. EU Ambassador to the UAE Lucie Berger described it as deepening trust and advancing a shared commitment to economic safeguard and global security. Simultaneously, EU trade officials suggested that the move removes political and regulatory barriers ahead of ongoing free trade agreement negotiations with the UAE.

While the FATF had cleared the UAE in early 2024, the EU’s delayed action mirrored its own rigorous oversight cycle. In March 2023, the EU flagged the UAE for strategic deficiencies before launching a renewed process that incorporated enhanced inter-agency cooperation and legal reform.

Next on the UAE’s reform agenda is ensuring resilience in emerging risk domains such as cryptocurrency laundering and cross-border terror financing. Analysts emphasise that maintaining international trust will require sustained enforcement, legislative updates scheduled for later this year and deeper public–private collaboration.


Also published on Medium.


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