The UAE passed a new law to combat the financing of terrorism

© AP Photo / Kamran JebreiliПорт in the UAE. Archival photoThe UAE passed a new law to combat the financing of terrorism© AP Photo / Kamran Jebreili

UAE President Sheikh Khalifa bin Zayed al Nahyan signed a new law to combat money laundering and the financing of terrorism, reports on Tuesday, UAE newspaper Gulf News.

According to the Ministry of Finance UAE, the law was prepared in accordance with the requirements of the Group of development of financial measures of struggle against money-laundering (FATF).

Earlier in the UAE acted adopted in 2002 the law against money laundering, which in 2014 was amended, dealing, in particular, the financing of terrorism.

A number of articles of the new law obliges to declare the import and export from UAE of money and other values in accordance with the requirements of the Central Bank, said in a statement the Ministry of Finance.

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