UAE passes law to combat money laundering, terror financing

The law follows a decree by UAE President Sheikh Khalifa bin Zayed Al-Nahyan. (File/AFP)
Updated 30 October 2018
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UAE passes law to combat money laundering, terror financing

  • The law follows a decree by UAE President Sheikh Khalifa bin Zayed Al-Nahyan

DUBAI: The United Arab Emirates passed a law to combat money laundering and terrorism financing, it said on Tuesday, UAE-run WAM reported.
The law follows a decree by UAE President Sheikh Khalifa bin Zayed Al-Nahyan.
“The UAE’s wise leadership is keen to develop the legislative and legal structure of the nation to ensure compliance with international standards on anti-money laundering and countering the financing of terrorism,” Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, said.
The law provides a legal framework for the government to counter money laundering and other related crimes, as well as it counters financing terrorist activities and suspicious organizations, which “enhances the UAE’s commitment to international recommendations and treaties,” Sheikh Hamdan added.


Iraqi cleric linked to Basra protests killed

Updated 5 min 20 sec ago
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Iraqi cleric linked to Basra protests killed

BASRA: Iraqi police say a Muslim cleric has been killed outside his home after he suggested that demonstrators should take up arms over poor public services in Basra.
Wissam Al-Ghrawi was a prominent figure in demonstrations in recent months demanding clean water and reliable electricity in the southern Iraqi city. Basra province generates more than 90 percent of Iraq’s oil exports but suffers from contaminated drinking water and regular blackouts.
Basra police say Al-Ghrawi was shot and killed in front of his house in the city center by unknown assailants late Saturday.
Al-Ghrawi was filmed at a protest on Friday saying clerics would issue a fatwa within days on taking up arms. The video was shared widely on Iraqi social media.