In its continuous efforts to eliminate risks of financial crimes in the UAE, the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations announced in its sixth meeting, the launch of ‘Fawri Tick ’, a smart system developed by the Federal Authority for Nuclear Regulation, FANR. “‘Fawri Tick’ is under ...

Hawala, or hundi, is an unofficial and informal channel to transfer money mainly used among South Asians. The UAE has made it mandatory for Hawala service providers in the country to register, as the country strengthens its anti-money laundering and counter terrorist financing (AML/CFT) framework, the Central Bank said in a statement on Monday. The ...