Ministry of Economy and Tourism organizes three workshops aimed at enhancing compliance levels within the country’s Designated Non-Financial Businesses & Professions sector

Sessions contribute to strengthening partnerships with the private sector

The Ministry of Economy and Tourism organized three workshops in collaboration with the Dubai Chamber of Commerce - one of the three chambers operating under Dubai Chambers. The sessions were aimed at strengthening compliance within the Designated Non-Financial Businesses and Professions (DNFBP) sector and enhancing collaboration with private-sector institutions as key partners in promoting transparency and integrity across the national business environment. The initiative contributes to reinforcing the UAE’s position as a secure and attractive economic investment hub, in line with the goals of the “We the UAE 2031” vision.

The initiative forms part of the Ministry's ongoing efforts to educate professionals in the DNFBP sector on the requirements for the prevention of money laundering and terrorism financing crimes, led by its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) department. It empowered them to adopt international best practices in areas such as due diligence, sanctions screening, and the reporting of suspicious transactions, thereby contributing to the development of a compliant and sustainable business environment.

In this context, H.E. Safeya Hashem Al Safi, Assistant Undersecretary for the Commercial Control and Governance Sector at the Ministry of Economy and Tourism, highlighted the integrated approach adopted by the Ministry to enhance compliance levels within the DNFBP sector. This includes promoting awareness on the importance of compliance, equipping companies with the necessary tools and knowledge-based mechanisms to strengthen their adherence to regulations, and simultaneously enhancing oversight of the sector in line with the highest international standards.

Her Excellency added that the workshops reflect the strong partnership between the Ministry and the private sector in advancing this shared vision. They are designed to empower private-sector institutions to uphold regulatory compliance and foster a lasting culture of accountability that safeguards the national economy from potential risks. By promoting greater transparency and integrity across the business landscape, these efforts contribute to sustainable economic growth and reinforce the UAE’s position as a globally competitive economy.

Maha Al Gargawi, Vice President of Business Community Engagement at Dubai Chambers, stated: “We are committed to serving as an active partner in all national initiatives and efforts aimed at strengthening compliance within the private sector. This commitment reflects our responsibility toward the business community and our dedication to supporting the sustainability and growth of companies across diverse industries. Upholding the principles of transparency, good governance, and adherence to the law constitutes a fundamental pillar for advancing the business ecosystem and enhancing the competitiveness of the national economy.”

Counselor Salem Al Taneiji, Director of the AML/CFT Department at the Ministry of Economy and Tourism, explained that the workshops focused on several specialized topics, including an overview of the Ministry’s responsibilities and the role of the Financial Action Task Force (FATF) in promoting national compliance, as well as an understanding of national and sectoral risks related to money laundering and terrorism financing. The sessions also addressed obligations concerning sanctions screening, name and high-risk country checks, the application of various levels of due diligence, registration in the notification system, and procedures for appealing fines.

Al Taneiji added that these topics form part of the Ministry’s broader vision to strengthen collaboration with private-sector partners and build the capabilities of professionals specializing in compliance, anti–money laundering, and countering terrorism financing in the country.

In detail, the first workshop, titled “Enhancing Compliance in the Real Estate Brokerage Sector,” covered several key awareness themes. It focused on understanding the risks of money laundering and terrorism financing in the real estate sector, drawing on both national and sectoral risk assessments. The session explored practical mechanisms for sanctions and name screening, identifying high-risk jurisdictions, and applying both simplified and enhanced due diligence measures. In addition, participants were briefed on procedures for registration in the notification system, common administrative violations, and how to appeal them.

The second workshop, titled “Compliance Practices in the Precious Metals, Precious Stones, and Refining Sector,” highlighted the importance of sharing expertise and knowledge to combat money laundering within this high-risk industry. The session covered key compliance tools and mechanisms, introduced indicators of suspicious transactions and methods for continuous monitoring, and guided the preparation of high-quality reports in this regard. It also addressed responsible gold sourcing practices, administrative penalties, and procedures for filing appeals.

Finally, the third workshop, titled “Compliance in the Auditing and Corporate Service Providers Sector,” focused on strengthening participants’ understanding of compliance requirements and the national and sectoral risk assessments. It aimed to enhance their proficiency in implementing screening and verification systems and managing relationships with high-risk jurisdictions. These efforts promote governance and transparency across the national business environment and ensure the highest standards of compliance in combating money laundering and terrorism financing.

The workshops served as practical instruments supporting the Ministry’s vision to promote voluntary compliance by strengthening communication and partnership between the Ministry and the DNFBP sector. They also provided comprehensive knowledge and training tools that contribute to the efficiency and effectiveness of the UAE’s AML/CFT framework in line with international best practices.