A technical panel will discuss a federal draft law to combat money laundering in the UAE on Monday, reported the official Emirati news agency, WAM.
Last year, the UAE Central Bank issued a list of regulations to all banks, money exchangers, financial companies and other financial institutions operating in the country in a bid to prevent money laundering through the country's financial system.
A source at the UAE's Ministry of Justice, Islamic Affairs and Awqaf was quoted by the agency as saying the draft would be referred to a higher ministerial committee for legislation for further review – Albawaba.com
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