EU Approves Removal of UAE from Dirty Money Risk List

The UAE is set to exit the European Union's "black list" of countries with deficient controls over illicit money flows. The move follows the Paris-based Financial Action Task Force's removal of the UAE from its list for "increased monitoring" last year. The UAE welcomed the decision, stating it will foster closer cooperation and shared security between the two regions. The EU's list includes countries such as Algeria, Angola, Ivory Coast, and Venezuela.