The law follows a decree by UAE President Sheikh Khalifa bin Zayed Al-Nahyan DUBAI: The United Arab Emirates passed a law to combat money laundering and terrorism financing, it said on Tuesday, UAE-run WAM reported. The law follows a decree by UAE President Sheikh Khalifa bin Zayed Al-Nahyan. “The UAE’s wise leadership is keen to develop the legislative and legal structure of the nation to ensure compliance with international standards on anti-money laundering and countering the financing of terrorism,” Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, said. The law provides a legal framework for the government to counter money laundering and other related crimes, as well as it counters financing terrorist activities and suspicious organizations, which “enhances the UAE’s commitment to international recommendations and treaties,” Sheikh Hamdan added.