“The UAE… has put in place a strong legal, regulatory and institutional framework to counter money laundering and combat terrorist financing and thereby protect its institutions from any reputation risk,” Central Bank Governor Sultan Nasser Al-Suweidi said.
The current regulation only applies to arriving passengers.
The central bank said it is also bringing the minimum declaration amount in line with international standards, raising the requirement to declare cash and bearer instruments such as cheques to AED100,000 ($ 27,230), or the equivalent in foreign currencies, from AED40,000.
