The UAE has assumed the national strategy for combating money laundering, terrorism financing, and arms expansion, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE, and Ruler of Dubai reported. The announcement was pushed during the “first meeting of the new government season”, chaired by the Dubai Ruler

Sheikh Mohammed highlighted that this seeks to

“ensure the sustainability of oversight of financial institutions and virtual asset service providers to reduce the principles of governance and clarity in our national economy”.

During the cabinet session, the unified government financial statistics of 2023 were consented to, indicating that government revenues reached Dh546 billion, while expenditures amounted to Dh402 billion. The critical areas of government spending included public security and safety, health, education, economic affairs, social security, housing, and utilities.

In a social media post, Sheikh Mohammed communicated that during the conference at Qasr Al Watan in Abu Dhabi, they were also informed on the progress of the new academic year, with schools in the UAE welcoming 1.1 million students.

“Studies began successfully in our national and private universities and the educational field welcomed the beginning of the year with clear directives from my brother, the President of the State, may God protect him,”

he stated, adding,

“We look forward to a successful academic year and an educational path capable of meeting the aspirations of the nation.”

During the conference, the Cabinet also endorsed the restructuring of the Supreme Committee for Free Trade Negotiations and the UAE’s membership in an international alliance called the Nationally Determined Contributions Coalition. This alliance seeks to advance sustainable development objectives and develop tools necessary to adapt to climate change.

Additionally, the Dubai Ruler reported that the agenda for the UAE government’s annual meetings, scheduled for November 5 and 6, 2024, in Abu Dhabi, has been agreed. These meetings will concentrate on three main tracks: family, national identity, and artificial intelligence.

“We asked all parties to submit ideas, initiatives and projects that contribute to developing their sectors… support our national priorities… and contribute to setting a clear national agenda for the year 2025, God willing,”

Sheikh Mohammed said.