Global financial crime watchdog the Financial Action Task Force (FATF) on Friday said Middle East business hub the United Arab Emirates had been included on a list of jurisdictions subject to increased monitoring, known as its 'grey' list.
The designation is a blow for the country as economic competition accelerates with Gulf neighbour Saudi Arabia, the world's top oil exporter and biggest Arab economy.
The Financial Action Task Force said the United Arab Emirates had been included on a list of jurisdictions subject to increased monitoring, known as its 'grey' list.
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