The Emirates enter the white zone

Recently, the Emirates were removed from the gray list of the Financial Action Task Force, an organization dedicated to combating money laundering and terrorism financing.

The FATF, comprising 39 countries including the EU, the US, and Canada, aims to tackle the illicit flow of funds. Should a nation be suspected of violating regulations, the association places it on either the gray or black lists. The Emirates' transition to the white zone indicates an enhancement in monitoring standards for business owners and enterprises.

What will change after the Emirates exit the gray zone

For some citizens, the Emirates' removal from the gray list may pose challenges: banks will now conduct even more strict client screenings and suspicious transactions checking.

Exiting the gray zone is poised to bolster trade volume, spur direct foreign investments, attract major institutional funds, and expedite the nation's economic growth.