Senior US official visits UAE to discuss Iran and money-laundering controls

Wally Adeyemo engaged with Emirati officials on Iran and the UAE’s crackdown on money laundering and terror financing

The US Treasury Department’s number two official visited the UAE this week to discuss several major topics with Emirati leaders including Iran and the two countries’ crackdown on terror financing.

Wally Adeyemo, US deputy treasury secretary, on Wednesday wrapped up a three-day visit to the UAE to meet the country's senior economic team, including Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai.

The Treasury Department noted in a statement that Mr Adeyemo discussed “illicit finance, cybersecurity, the global economic recovery and Iran” with Sheikh Maktoum and other Emirati officials, including Minister of State for Financial Affairs Mohamed Hadi Al Hussaini, UAE Central Bank Governor Khaled Mohamed Balama Al Tameemi and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.

“The US-UAE bilateral relationship is critical given the important role the UAE plays in the region and globally as well as the shared security concerns between the two countries on countering the financing of terrorism and money laundering,” the Treasury Department said.

Mr Adeyemo also “welcomed the UAE’s improvements to their [anti-money laundering and combating terrorism financing] regime and encouraged continued progress".

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, issued a directive last month establishing a special court designed specifically to adjudicate money-laundering cases.

The UAE also established an Executive Office of Anti-Money Laundering and Countering the Financing of Terrorism this year.

The Treasury Department sent a lower-level delegation to the UAE in July to discuss these and the country’s other efforts to stop money laundering and terrorism financing.

The US deputy treasury secretary also discussed US-UAE economic co-operation during his trip.

“He discussed how our countries can promote more sustainable and equitable growth and deepen bilateral economic ties,” the Treasury Department said.

While in Abu Dhabi, Mr Adeyemo met Sheikh Hamed bin Zayed, managing director of Abu Dhabi Investment Authority, and Minister of Justice Abdullah Sultan Al Nuaimi. And while in Dubai, he visited the US pavilion at Expo 2020.

He also met Dr Anwar Gargash, diplomatic adviser to President Sheikh Khalifa, and attended a private sector round-table with the UAE Banks Federation.

Updated: November 18th 2021, 6:14 AM
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