UAE launches assessment of proliferation financing risks

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Hamid Al Zaabi is the Director-General of the UAE Executive Office of AML/CFT.
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  • The assessment was initiated in recent weeks and is expected to be completed by the end of 2022.
  • The risk assessment will cover how financial resources may be used to develop nuclear, chemical, and biological weapons.

The United Arab Emirates’ Executive Office for AML/CFT and the Executive Office of the Committee for Goods and Materials Subject to Import and Export Control have launched assessment of proliferation financing risks in the Emirates.

The proliferation financing risk assessment will assist the UAE’s public and private sectors to implement new requirements to identify, assess, and understand proliferation financing risk to develop appropriate measures to mitigate or reduce risk.

The risk assessment will cover how financial resources may be used to develop nuclear, chemical, and biological weapons, including the means, technologies, and dual-use goods used in their delivery. It will also emphasize the private sector’s obligations under UAE law.

The assessment was initiated in recent weeks and is expected to be completed by the end of 2022.

The project will be led by the Executive Office of the Committee for Goods and Materials Subject to Import and Export Control in coordination with UAE stakeholders and the private sector.

Hamid Al Zaabi, Director-General of the UAE Executive Office of AML/CFT, said, “Developing a thorough understanding of risk will lead to stronger preventative policy development and implementation of counter-proliferation financing measures by entities in the UAE.”

Talal Mohammed Al Tenaiji, Director of the Executive Office of the Committee for Goods and Materials Subject to Import and Export Control, stressed the office’s role in leading the project and forming teams specialized in collecting and analyzing information.

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