Officials in the United Arab Emirates have met to discuss the country’s anti-money laundering strategy as it positions itself as a regional gaming hub for the Middle East.
Led by the National Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC), over 50 senior officials representing federal and local authorities reviewed the current implementation of the UAE’s National Strategy for AML/CFT/CPF 2024-2027 and looked ahead to the next three-year cycle.
On the agenda, in a series of breakout sessions, were several key issues, including gaming and casinos.
Since the beginning of the strategy’s current cycle, the UAE has accelerated its ambitions to embrace the economic potential of gaming.
The General Commercial Gaming Regulatory Authority (GCGRA) has been tasked with regulating the country’s gaming industry. Meanwhile, notable names such as Wynn Resorts, Aristocrat and Novomatic have gained licences to operate in or supply to the market.
The onset of the UAE’s 2027-2030 strategy coincides with the expected opening of Wynn Resorts’ $3.9bn Wynn Al Marjan Island integrated resort project in March 2027.
As such, lawmakers and regulators will now have to make provisions for protecting against the AML risks associated with land-based casinos and the wider gaming industry.
“This retreat was not only a chance to review our achievements, but also to set clear priorities for the next strategic cycle. By doing so, we ensure continuity, accountability, and a shared commitment to excellence that will carry the UAE well beyond 2027,” stated Mohamed AlKatheeri, Director of the National Coordination and Follow-Up Department.
Last year, the UAE was removed from the Financial Action Task Force (FATF) grey list, after being placed on there in March 2022 due to the identification of strategic deficiencies in the country’s systems to counter criminal conduct related to AML and the financing of terrorism.
The National Strategy for AML/CFT/CPF was adopted by the UAE Cabinet in September 2024 and sets out the country’s plan to align with FATF’s standards.
These are structured around 11 national goals and four strategic pillars: strengthening supervision and enforcement, enhancing domestic coordination, deepening international cooperation, and embedding innovation and technology.
According to the Emirates News Agency-WAM, participants have committed to accelerating the National Action Plan and mapped out the pillars of the UAE’s 2027-2030 AML strategy.
