Media ININ Economy We Trust
Media In – Abu Dhabi, October 14, 2018 and WAM
HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, issued Ministerial Decision No. 111 of 2018 on the formation of the Financial Free Zones Inspection Committee. The committee is responsible for inspecting the financial free zones and revising the legislation, regulations and procedures in place to verify the extent to which these areas comply with the provisions of Federal Law No. 8 of 2004 regarding the free financial zones. The semi-annual reports on the free financial zones are also reviewed for their activities and adherence to the law. The Committee shall ensure the existence of procedures to counter money laundering and combating the financing of terrorism in accordance with the legislation in force in the State and prepare a report on the results of its work, including the suggestions and recommendations necessary to achieve its tasks. The Committee shall meet at the invitation of its Chairman or Vice-President. Needed to do so.
