UAE, China To Cooperate Against Money Lundering, Terrorism Financing

The United Arab Emirates and China agreed to share intelligence to fight money loundering and terrorism financing, the Financial Intelligence Unit of the UAE central bank said on Tuesday.

It said it would exchange information with its counterpart, the China Anti – Money Laundering Monitoring and Analysis Centre, on investigations intro transactions related to money laundering, terrorism financing, and the persons or entities involved.

The UAE, home to the Middle East Financial Hub Dubai, has worked over the last few years to overcome a perception it is a hot spot for illicit money. In February the government created an Executive Office for Anti – Money Laundering and Counter Terrorism Financing.

China was Dubai’s largest trading partner in 2019, contributing $29 billion to the economy that year.


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