UAE: National Committee Adopts New AML/CFT Initiatives

Gulf News, 28 April 2026: The National Committee for Anti‑Money Laundering, Combating the Financing of Terrorism and Proliferation Financing, chaired by Khaled Mohamed Balama, Governor of the Central Bank of the UAE, has adopted a comprehensive set of decisions and initiatives to strengthen national readiness, investigation tools, and institutional integration.

During its second meeting of 2026, attended by ministers and senior officials, the Committee approved the restructuring of subcommittees and updating of mandates to reflect current priorities. It also endorsed new work methodologies and follow‑up mechanisms to support effective national decision‑making.

A key measure was the adoption of the National Guide on Financial Intelligence and Money Laundering Investigations, which updates procedures for organising investigations, tracking and confiscating assets, and coordinating among competent authorities. The guide incorporates virtual assets and regulates asset recovery mechanisms, enhancing the reach and effectiveness of financial investigations.

The Committee further approved risk assessments covering financial institutions, virtual asset service providers, and designated non‑financial businesses and professions, enabling more precise supervisory and enforcement actions. It also endorsed the National Risk Assessment for Proliferation Financing (public version) and the National Risk Assessment for Non‑Profit Organisations, strengthening transparency and risk‑based oversight.

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UAE: CBUAE Updates AML/CFT/CPF Guidance for Licensed Financial Institutions

The UAE Central Bank has updated its guidance on anti-money laundering, counter-terrorist financing, and counter-proliferation financing obligations for licensed financial institutions.

The updated guidance package introduces comprehensive measures to help institutions detect, prevent, and manage risks related to money laundering, terrorist financing, and proliferation financing.

Key regulatory guidance documents include:

• Proliferation Financing Risks: Framework for assessing inherent risks, evaluating policies and controls, and monitoring emerging typologies.
• Trade‑Based Money Laundering (TBML) and Transshipment Risks: Guidance to strengthen monitoring of trade and shipping activities linked to illicit finance.
• Correspondent Banking Relationships: Expectations for managing AML/CFT/CPF risks in correspondent banking, with emphasis on internal policies and compliance.
• Customer Due Diligence (CDD), KYC, and Record Keeping: Clarifies procedures for verifying customer identities, building risk profiles, and retaining documentation.

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UAE: Authorities Launch Essential Goods Price Monitoring Platform

20 April 2026: The Ministry of Economy and Tourism has introduced a digital platform enabling consumers to compare daily prices of 33 essential goods across 12 major retailers, reinforcing transparency and consumer protection. The Essential Goods Price Platform provides real‑time price comparisons for 33 staple items, including rice, poultry, dairy, cooking oil, eggs, sugar, meat, fish, bread, fruits, and vegetables. Prices are updated daily through direct integration with participating retailers, allowing consumers to build customised shopping baskets and identify the lowest total cost.  Consumers can report discrepancies between listed and in‑store prices, enabling enforcement action against non‑compliant outlets.

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UAE: Government Considers Shifting Oil Payments Away from US Dollars

20 April 2026: During meetings in Washington last week, UAE Central Bank Governor Khaled Mohamed Balama raised the idea of establishing a currency swap line with US Treasury Secretary Scott Bessent and Federal Reserve officials. The proposal was presented as a precautionary measure to shield the UAE economy from further fallout of the Iran conflict. Emirati officials indicated that if dollar liquidity tightens, the UAE may consider settling oil transactions in alternative currencies. The Chinese Yuan has been identified  as a leading option.

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UAE: CMA Issues Comprehensive Virtual-Assets Regulatory Framework

The National, 13 April 2026: The UAE’s Capital Market Authority has issued a robust Virtual Assets Framework, establishing a specialised regulatory regime governing the virtual-asset sector.

The framework consists of five core modules:

• General Requirements – overarching obligations for virtual-asset providers.
• Conduct of Business – licensing, governance, compliance and risk-management rules.
• Alternative Trading System (ATS) – dedicated governance for trading platforms, covering virtual and tokenised securities.
• Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) – targeted safeguards.
• Prudential Requirements – capital adequacy, client protection and operational resilience.

The framework expands regulated activities from three to eight, including:

1. Dealing in virtual assets as principal
2. Dealing in virtual assets as agent
3. Providing custody
4. Arranging custody
5. Arranging investment deals
6. Providing investment advice
7. Portfolio management
8. Operating a multilateral trading facility

A dedicated ATS module now regulates trading venues for virtual assets and tokenised securities, reflecting market convergence and evolving business models.

The CMA emphasised that the framework enhances investor protection, market integrity, and innovation, aligning with IOSCO and FATF standards, and upholding the principle: “same activity, same risk, same regulatory outcome”

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UAE: Ministry Of Finance Announces Amendments to Tax Procedures Regulations

The UAE Ministry of Finance announces amendments to the executive regulation on tax procedures to clarify disclosure, refund and audit rules.

The Ministry of Finance announces amendments to Cabinet Decision No. 74/2023 on the Executive Regulation of Federal Decree‑Law No. 28/2022 on Tax Procedures, following legislative updates that entered into force on 1 January 2026. The amendments clarify the procedures governing the submission of voluntary disclosures and align them with the updated provisions of Federal Decree‑Law No. 28/2022 on Tax Procedures.

The revised regulation provides that refund procedures apply to any credit balance in favour of the taxpayer and updates the mechanisms for disclosure to competent government authorities, while reaffirming data‑confidentiality protections and defining the scope and limits of information use. The amendments also extend the record‑retention period by two additional years for tax periods linked to refund claims submitted before the statute of limitations expires, where no determination has yet been issued.

In addition, the regulation introduces the possibility of extending the period for the preservation or seizure of documents or assets for the purposes of tax audit and examination. The ministry states that these measures enhance transparency, facilitate taxpayer compliance and safeguard taxpayers’ rights. The amendments enter into force on 1 April 2026.

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UAE: Distance Learning Continues at Universities with One Exemption

Gulf News, 31 March 2026: The UAE extends distance learning for universities while allowing limited in‑person attendance for priority programmes.

The Ministry of Higher Education and Scientific Research extends remote learning at higher education institutions across the UAE until April 17, following coordination with the Education, Human Development and Community Development Council. The measure applies to public and private universities nationwide, with weekly reviews planned.

Under the updated directive, in‑person classes resume only for priority academic programmes that require physical attendance, such as clinical training, laboratory‑based courses and practical fieldwork, provided approved safety measures are strictly followed. Universities are also permitted to conduct on‑site examinations where necessary.

The ministry urges institutions to maintain academic quality and assessment standards while coordinating closely with local authorities.

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