The UAE is strengthening its crackdown on financial crime, with the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism and Proliferation Financing approving a new set of measures to boost transparency and enforcement.

Announced after its latest meeting, chaired by Khaled Mohamed Balama of the Central Bank of the UAE, the updates aim to strengthen how authorities detect, investigate, and prevent illicit financial activity.

A key highlight is a new national guide on financial intelligence and money laundering investigations, which improves coordination between agencies and introduces updated procedures for tracking and recovering assets, including those linked to virtual assets.

The committee also approved risk assessments across financial institutions, virtual asset providers, and non-financial sectors, enabling more targeted enforcement and oversight.

Stricter compliance for businesses

For businesses in the UAE, the new measures mean stricter compliance requirements but also a more stable and trusted operating environment.

Companies, especially in finance, real estate, and emerging sectors like virtual assets, will need to strengthen due diligence, improve internal controls, and align with updated risk assessments and reporting standards set in coordination with the Central Bank of the UAE.

While this may increase operational oversight and compliance costs in the short term, it enhances transparency, reduces exposure to financial crime risks, and reinforces the UAE’s reputation as a secure global business hub, ultimately boosting investor confidence and long-term growth opportunities.

Additional updates include revised national risk assessments on proliferation financing and non-profit organisations, reinforcing a risk-based approach to regulation.

While largely behind the scenes, these changes play a key role in maintaining the UAE’s position as a secure and trusted global financial hub, something that directly impacts businesses, investors, and the wider expat community.

Officials say the measures mark a more advanced phase in the country’s regulatory framework, with stronger coordination and improved readiness to address evolving financial risks.

In a major shift for global energy markets, the UAE has announced plans to exit OPEC and the OPEC+ alliance, effective May 1, 2026.

The move signals a bold step in the UAE’s long-term strategy, as it looks to gain greater control over its production policy and respond more flexibly to changing global demand.

Officials said the decision follows a comprehensive review of the country’s energy capacity and future outlook, with a focus on national interest and the ability to meet market needs more efficiently.

Despite ongoing geopolitical pressures, including supply concerns, global energy demand is expected to remain strong in the years ahead. The UAE says it is positioning itself to meet that demand with a balance of reliability, affordability, and sustainability.

The country, which first joined OPEC in 1967 through Abu Dhabi, has long played a key role in stabilising oil markets. Officials described the exit not as a break, but as an ‘evolution’,  one that allows the UAE to act more independently while still supporting global market stability.

Positioning itself as a reliable energy partner, the UAE said it will continue supplying some of the world’s most cost-competitive and lower-carbon oil, while gradually adjusting production in line with demand.

At the same time, the country is doubling down on investments across the energy spectrum, from oil and gas to renewables and low-carbon technologies, as part of a broader push toward long-term resilience and economic diversification.

Source: WAM

‘Shop Local’, a new initiative aimed at helping consumers across the UAE discover and support homegrown businesses, while giving small and medium enterprises (SMEs) greater visibility, has been launched by a local platform Quiqup.

It will bring together UAE-based brands in one place, allowing users to easily browse, discover and purchase from local businesses that often face challenges standing out in crowded digital spaces.

Open to small and local businesses nationwide, ‘Shop Local’ is designed to address one of the most common hurdles SMEs encounter, reaching the right audience. By offering a dedicated channel, the initiative aims to help businesses build awareness, drive sales and support long-term growth.

The launch coincides with the announcement of the establishment of the Dh1 billion National Industrial Resilience Fund to boost localisation within key industries by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Strengthening local businesses

Fatima Yousif Alnaqbi, Acting Assistant Under-Secretary for the Support Services Sector at the Ministry of Finance and representative at the Mohammed Bin Rashid Innovation Fund, highlighted the importance of enabling high-potential businesses to scale.

She noted that supporting companies at the right stage allows them to contribute more effectively to the economy, particularly in the UAE, where innovation and entrepreneurship play a key role in driving growth and creating new opportunities.

Bassel El Koussa, CEO of Quiqup, said the initiative reflects the company’s belief in strengthening connections between businesses and communities.

He added that ‘Shop Local’ is intended to create opportunities for local brands to grow, deepen customer engagement and build a stronger market presence, while encouraging consumers to play a more active role in supporting the local economy.

The platform has already received 190 brand submissions, with Quiqup aiming to onboard at least 250 businesses in the coming weeks.