As this was already expected - DLS Dubai started working since the beginning of 2022 with more local UAE Banks as well as International Banks to still be able to provide the full range of service and possibilities for our clients.
What is to be expected from a FATF Graylisting in practice:
- More lenghty and intensive Bank Account Opening Compliance Process
- Potentially more questions for Wire Transfers
It's more important then ever before to have now a reliable Corporate Service Provider on your side that knows what he is doing.
It's not 100% confirmed yet and we will post further updates here.
What is to be expected from a FATF Graylisting in practice:
- More lenghty and intensive Bank Account Opening Compliance Process
- Potentially more questions for Wire Transfers
It's more important then ever before to have now a reliable Corporate Service Provider on your side that knows what he is doing.
It's not 100% confirmed yet and we will post further updates here.
UAE Poised for Global Watchdog’s ‘Gray List’ Over Dirty Money
The United Arab Emirates is set for inclusion on a global watchdog’s “gray list” after some of its members indicated that the Gulf nation hadn’t made enough progress in tackling illicit financial flows, according to people familiar with the matter.
www.bloomberg.com
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