Pakistan, July 10 -- The European Union has officially removed the United Arab Emirates (UAE) from its list of high-risk countries for money laundering and terrorism financing. This move follows months of evaluations and reflects the UAE's progress in financial transparency and enforcement.

The European Commission acknowledged that the UAE has made "substantial improvements" to its legal framework and regulatory systems. The country has adopted stricter laws, improved monitoring systems, and increased its prosecution efforts. These changes were seen as effective in addressing the deficiencies that once landed the UAE on the EU's high-risk list.

UAE officials welcomed the EU's decision, calling it "a global recognition" of their efforts ...