موقع إخباري يهتم بفضائح و انتهاكات دولة الامارات

UAE responses to US pressure by stressing remittances

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The UAE has responded to the continued US pressure to tighten remittances by announcing that the UAE Central Bank will launch a new mechanism to assess and measure the effectiveness of the screening and monitoring systems of funds and sanctioned entities.

The UAE move comes nearly two months after a senior Treasury official visited the UAE as part of efforts to tighten sanctions on Iran.

Central Bank Governor Mubarak Rashid al-Mansouri said during a conference to combat terrorism financing and sanctions, the bank seeks to “ensure the adoption of appropriate systems and successful technical tools to combat the spread and financing of terrorism.”

According to the agency, the financial community was urged to develop mechanisms to monitor those listed in the sanctions lists and impose more precise and technically sophisticated controls, noting that the Central Bank is committed to “ensure that all financial circles under its supervision comply with the sanctions regulations.”

The US Treasury Secretary for Terrorism and Financial Intelligence, Segal Mandelker, visited the UAE in September as part of the Trump administration’s efforts to tighten sanctions on Iran, Bloomberg reported.

The visit included the meeting of the heads of seven banks, in addition to the heads of UAE shipping companies, and talks with officials in the Ministry of Finance and the Central Bank, according to the US Agency.

The visit came about a month after Dubai announced its intention to open bank accounts for all Iranian traders and facilitate the procedures for granting them commercial visas to enter, while the President of the Association of Iranian Traders in the UAE Abdul Qader Fakihi at the time that relations with the UAE will see a new opening in the areas of trade and economic after a period Of retreat.

Following the comments, Akbar Turki, a member of the Iranian Islamic Consultative Assembly (parliament), said relations with the UAE in foreign exchange had improved, with the UAE releasing $700 million of Iranian assets.

“The UAE has moved away from the Saudi-American axis and has improved relations with Iran, releasing these funds and resuming the work of Iranian money changers in Dubai,” Turki said on October 20.

In August, Iran’s central bank governor, Nasser Hemmati, reiterated the UAE’s retreat from its economic pressure on Iran, describing the move as “good and positive.”

On July 5, Fars said in a report that “the UAE has in recent weeks reduced its pressure on money-transfer ATMs to Iran very significantly.”

According to Iranian sources, between 70 and 80 percent of Iranian remittances are made through the UAE, and Iranian investments in the UAE amount to about $300 billion, second only to US investments.

The number of Iranian companies registered in the UAE to nearly 8,000 companies, and the number of traders up to 8,200 people, according to an investigation of the newspaper “Verhekhtagan” conservative Iranian newspaper, published earlier.

Recently, an annual US State Department report on global terrorism in 2018 sharply criticized the UAE and the regime’s role in supporting terrorist organizations.

According to the US State Department report, the UAE is a regional and international station for the movement and movement of terrorist organizations.

The report described the UAE as the regional and international station for the movement of terrorist organizations and a center for receiving and sending financial support.

The US government report also confirmed that political considerations were an obstacle to the UAE government freezing and confiscating terrorist assets.

US reports have said financial institutions in the UAE are involved in cash transactions involving large sums of money from international drug trafficking. One report ranked the UAE among the top countries in the field of money laundering, making it the only Gulf country to be included in this classification.

Part of the money laundering activity in the UAE is linked to illegal revenues from drugs produced in southwest Asia, noting that money laundering crimes in the UAE mainly include the real estate sector and the gold and diamond trade.

The weakness of the UAE’s financial system is the lack of controls and tariffs for financial entities in the free zones, and the supervision of them to ensure that gaps in control are closed. In 2016, the US State Department’s annual report on terrorism confirmed that terrorist groups used the UAE with the support of their rulers as a center for their financial transactions.

Dubai is not only connected to skyscrapers and towers, or to the spectacular lights of the night and huge shopping malls, but it hides under all that, according to several reports revealed, stable for many money launderers for the entities of organized crime, drugs and hawks financing terrorism in the world. Indeed, as this translated article on “The American Conservative” explains, and as a result of what appear to be intentional policies of the UAE’s official authorities, it has become a haven for people fleeing international sanctions.

A recent report by the Center for Advanced Defense Studies, including unquestionable evidence, shows that one of the most prominent US allies in the Middle East (the United Arab Emirates) is a center for money laundering of international criminals. The Dubai Real Estate Market has provided a safe haven for illicit funds linked to terrorism, drug dealers, and warlords.