UAE central bank counters money laundering

The Gulf Today, a local newspaper, reported that the United Arab Emirates central bank has issued a list of regulations and procedures to all financial institutions to prevent money laundering through the country's financial system.

In a separate announcement, Mohammad Eid al-Muraikhi, UAE central bank board chairman sayid that the UAE's economic outlook for the coming decade is excellent, with an unprecedented 17% jump in gross domestic product (GDP) expected this year.