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BitOasis to be registered in GoAML

September 23, 2021

ABU DHABI, 22nd September, 2021 (WAM) -- The Executive Office of Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) has welcomed the confirmation that BitOasis will be registered with the UAE Financial Intelligence Unit’s (UAE FIU's) reporting platform, GoAML, helping to add yet another layer of security for both fintech start-ups and the national economy.

Commenting on the statement, Hamid AlZaabi, Director-General of AML/CTF, said, 'Today’s announcement falls directly in line with the vision of the UAE NEXT 50, which was set out last year by our national leadership to support fintech start-ups in growing their businesses with approved anti-money laundering and counter terrorism financing standards in line with the FATF recommendations.'

'We are delighted to have the UAE's first fintech start-up, BitOasis, being registered with the UAE Financial Intelligence Unit's GoAML integrated platform. As a strategic step, this decision will ensure that homegrown fintech start-ups are able to meet compliance requirements as set out by the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations (NAMLCFTC),' said Ali Baalawi, Director of UAE FIU.

Speaking on behalf of Dubai Police GHQ, Tarek Mohammed, Head of the Virtual Asset Crime Section, commented, 'BitOasis, as the UAE's first virtual asset service provider to be registered with the FIU's GoAML is a forward-thinking step by NAMLCFTC and the FIU to safeguard the economic security of the country while empowering our fintech start-ups.'

According to the company’s website, BitOasis is the largest, most secure, and most liquid digital asset exchange in the MENA region, offering over 15 digital assets to buy, sell and trade against the UAE Dirham.


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