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Međunarodni institut za bliskoistočne i balkanske studije (IFIMES) iz
Ljubljane, Slovenija, redovno prati i analizira ključna globalna i regionalna
događanja, s posebnim naglaskom na Bliski istok, Balkan i šire međunarodno
okruženje. U okviru svojih istraživačkih aktivnosti Institut je pripremio
analizu finansijskog sektora kao podlogu za nove investicije, jačanje
kontrole nad pranjem novca i unapređenje transparentnosti poslovanja. Posebna
pažnja posvećena je primjerima Bjelorusije, Ujedinjenih Arapskih Emirata
(UAE) i Crne Gore, koji ilustrativno ukazuju na izazove i prilike u
regulaciji i sigurnosti investicionog okruženja. Iz opsežne analize pod
nazivom „Sigurne i
transparentne investicije kroz kontrolu pranja novca i transparentnost“
izdvajamo najvažnije i najzanimljivije nalaze i preporuke.
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Globalno finansijsko tržište
danas zahtijeva mnogo više od same likvidnosti i kretanja kapitala – ono
traži stabilnost, sigurnost investicija i predvidivost poslovnog okruženja. U
vremenu kada nestabilnost odnosno promjenljivost na tržištima može preko noći
obezvrijediti imovinu ili poremetiti tokove kapitala, investitorima je od
presudne važnosti da posluju u zemljama koje garantuju jasna pravila igre,
transparentan regulatorni okvir i efikasne mehanizme zaštite finansijskog
sistema. Posebno institucionalni i međunarodni fondovi, koji upravljaju
milijardama dolara u ime klijenata, traže jurisdikcije u kojima je rizik od
gubitka povjerenja, nepredvidivih političkih odluka ili pravnih sankcija
sveden na minimum.
Jedan od ključnih izazova u ovom kontekstu ostaje pranje novca i finansiranje
terorizma – pojave koje ne samo da narušavaju integritet finansijskog
sistema, već direktno ugrožavaju reputaciju zemlje i investitora koji posluju
na njenom tržištu. Zemlje koje ne raspolažu snažnim i dosljedno sprovedenim (Anti-Money Laundering/Countering the
Financing of Terrorism -AML/CFT) okvirom izlažu se riziku da budu
označene kao „visokorizične destinacije“,
što automatski odvraća ozbiljne investitore i može rezultirati međunarodnim
restrikcijama. Upravo zbog toga Evropska unija i globalne finansijske
institucije redovno ažuriraju liste rizičnih jurisdikcija. Nažalost, i unutar
same EU postoje države koje se suočavaju sa značajnim izazovima u ovoj
oblasti – poput Italije, Malte i Bugarske – gdje kontrole pranja novca i
nadzor nad kripto-tržištem još uvijek nisu na zadovoljavajućem nivou. Slična
situacija prisutna je i u pojedinim zemljama Zaliva, uključujući Kuvajt i Saudijsku
Arabiju, koje se suočavaju sa sporijom implementacijom međunarodnih standarda
i slabijom institucionalnom koordinacijom.
Dok Italija, Malta i Bugarska, uprkos članstvu u Evropskoj uniji, još uvijek
balansiraju između ambicija finansijske stabilnosti i stvarnih izazova u
kontroli pranja novca i regulaciji kripto-tržišta Bjelorusija, UAE i Crna
Gora pokazuju suprotno – proaktivno oblikuju svoje ekonomsko i regulatorno
okruženje kako bi privukle ozbiljne investicije. Dok evropske i zalivske
jurisdikcije poput Kuvajta i Saudijske Arabije ponekad kasne u implementaciji
međunarodnih standarda ili se suočavaju sa birokratskim preprekama, ove tri
zemlje predstavljaju primjer modernog i pouzdanog poslovnog ambijenta.
Bjelorusija, sa svoje strane, strateški koristi regulatorne i tehnološke
inovacije kako bi se pozicionirala kao stabilna destinacija za međunarodne
investicije, uključujući kripto-projekte i digitalne finansijske platforme.
Transparentnost regulatornog okvira i efikasna kontrola finansijskih tokova
doprinose povjerenju investitora i minimiziraju rizik pravnih ili
reputacijskih problema.
Ujedinjeni Arapski Emirati, kroz striktan AML/CFT okvir i jasnu regulaciju
digitalnih i kripto-aktivnosti, uspješno balansiraju između inovativnosti i
sigurnosti. To im omogućava da postanu regionalni centar za međunarodne
finansijske tokove i blockchain tehnologije, dok investitori istovremeno
imaju garantovan visok nivo zaštite kapitala.
Crna Gora, iako manja ekonomija, izdvaja se svojim fokusom na privlačenje stranog
kapitala kroz stabilan zakonodavni okvir i jasne procedure za kontrolu
finansijskih transakcija. Njena integracija u regionalne i međunarodne
finansijske tokove, zajedno sa modernizacijom digitalnih servisa, čini je
konkurentnom destinacijom u poređenju sa državama koje se još uvijek bore sa
regulatornim izazovima.
Kombinacija snažne regulative, otvorenosti za inovacije i strateškog
pozicioniranja omogućava ovim zemljama da budu predvodnici u globalnom
finansijskom okruženju. One ne samo da minimiziraju rizik za investitore, već
aktivno oblikuju budućnost finansijskih tržišta, pokazujući da stabilnost,
transparentnost i inovativnost mogu ići ruku pod ruku.
Reforme i primjeri
zemalja: Bjelorusija, UAE i Crna Gora
Bjelorusija
je u posljednjih nekoliko godina značajno unaprijedila svoj finansijski
sektor i sistem kontrole pranja novca, što je rezultiralo sigurnijim
okruženjem za investitore. Strožiji propisi za prijavu sumnjivih transakcija,
pojačan nadzor banaka i implementacija modernih sistema za praćenje
transakcija doveli su do smanjenja broja sumnjivih aktivnosti, dok
međunarodna saradnja sa relevantnim organizacijama osigurava primjenu
globalnih standarda u praksi. Dekret br. 8 „O razvoju digitalne ekonomije“ iz 2017. legalizirao
je kriptovalute i digitalne tokene u High-Tech Parku (HTP), a
kripto-kompanije primjenjuju “KYC
procedures – Know Your Customer procedures”, praćenje transakcija
i obavezno izvještavanje o sumnjivim aktivnostima.
Strane investicije u finansijski sektor porasla su za više od 18% tokom 2024.
i 2025. godine, dok je broj sumnjivih transakcija smanjen za 25% prema
podacima Centralne banke Bjelorusije. Svjetska banka je potvrdila ovu
dinamiku, finansirajući projekte ukupne vrijednosti preko 2,5 milijardi
dolara, a kinesko-bjeloruski industrijski park privlači milijarde dodatnih
investicija. Statistika 2024–2025.: broj klijenata 300.000+, vrijednost
stranih transakcija tri milijarde USD, pad sumnjivih aktivnosti 25%. Ove
reforme Bjelorusiju čine atraktivnom destinacijom za strane investitore koji
traže stabilno i pouzdano okruženje za kapitalne projekte i kripto-inovacije.
Politika predsjednika Aleksandra
Lukašenka, koja snažno afirmiše finansijsku transparentnost i
sigurnost investicija, dobila je dodatnu potvrdu i međunarodnog priznanja
kada ga je američki predsjednik Donald
Trump telefonski razgovarao još 15. avgusta 2025.godine tokom
puta za Aljasku na historijski susret sa ruskim predsjednikom Vladimirom Putinom, ističući
značaj Bjelorusije kao pouzdane i inovativne destinacije za globalne
investitore.
Ujedinjeni Arapski Emirati, sa svoje strane, postavili su primjer u regiji
Zaliva kroz sveobuhvatan AML/CFT okvir implementiran putem VARA – Virtual
Assets Regulatory Authority i ADGM – Abu Dhabi Global Market, usklađen sa FATF
(Financial Action Task Force)
standardima. EU je uklonila UAE sa liste visokorizičnih zemalja kroz
Delegiranu uredbu (EU) 2025/1184, usvojenu 10. juna 2025., što odražava
uspjeh Emirata u jačanju kontrole transakcija, povećanju transparentnosti
finansijskog sektora i striktnoj primjeni međunarodnih standarda. Ova odluka
značajno smanjuje regulatorne prepreke i povećava povjerenje investitora iz
Evrope, SAD-a i Azije, čime Emirati postaju sigurna destinacija za kapital.
Strateški projekti u infrastrukturi, finansijama i digitalnoj ekonomiji
dodatno privlače strane investicije, a otvorenost ka blockchain i
kripto-projektima pozicionira UAE kao regionalni centar inovativnog
finansijskog tržišta.
Tokom 2024. godine, Ujedinjeni Arapski Emirati su potvrdili svoju poziciju
lidera u GCC, ali i na svjetskoj sceni kao ključnog aktera u dolaznom i
izlaznom kapitalu. Emirati su primili rekordnih 45,6 milijardi USD stranih
direktnih investicija (FDI), što čini 37% ukupnih FDI tokova u regiji Bliskog
istoka i Sjeverne Afrike, istovremeno ostvarivši značajne izlazne investicije
u međunarodne projekte, uključujući 310 miliona USD u Maroku. Ovi impresivni
rezultati potvrđuju reputaciju UAE-a kao pouzdanog i inovativnog partnera za
međunarodne investitore i strateške projekte širom svijeta.
Predsjednik države Sheikh
Mohammed bin Zayed vodi vizionarsku i globalnu politiku koja
omogućava UAE da ne samo dominiraju u državama Vijeća za saradnju u zaljevu
(GCC), već i da budu prepoznati globalno kao pouzdan i strateški partner u
međunarodnim finansijskim tokovima, dodatno jačajući ulogu zemlje kao centra
za inovacije, infrastrukturu i digitalnu ekonomiju.
Crna Gora, iako manja ekonomija, strateški je prepoznala značaj modernizacije
finansijskog sektora, digitalne transformacije i transparentne regulacije.
Tako je Skupština Crne Gore 12. marta 2025. godine usvojila je Zakon o
izmjenama i dopunama Zakona o sprečavanju pranja novca i finansiranja
terorizma (Službeni list Crne Gore,
broj 24/2025), koji je stupio na snagu 20. marta 2025. godine.
Ovaj akt donio je ključne inovacije za finansijski sektor, uključujući
regulaciju kripto imovine i operatera kockanja, registraciju pružatelja
kripto-usluga, te obaveznu edukaciju i obuku tužilaštva i policije u praćenju
i prepoznavanju sumnjivih transakcija.
Mjere takođe uključuju praćenje stvarnih vlasnika kompanija i tipologija
pranja novca, što značajno smanjuje rizik od zloupotrebe finansijskog sistema
i povećava sigurnost kapitala. Transparentna primjena AML/CFT standarda i
usklađenost sa međunarodnim normama omogućava investitorima iz Evrope, SAD-a
i Azije pouzdano i predvidivo poslovno okruženje.
Crna Gora je istovremeno otvorila prostor za razvoj digitalne ekonomije i
kripto-industrije, pružajući povoljne uvjete za inovativne finansijske
projekte, blockchain inicijative i fintech startupe. Kroz regionalnu
integraciju, infrastrukturne projekte i javno-privatna partnerstva, zemlja
postaje konkurentna destinacija za strateške investicije i razvoj kapitala.
Prema podacima Centralne banke Crne Gore, ukupni priliv stranih direktnih
investicija (SDI) u 2024. godini iznosio je 889,8 miliona eura, dok je neto
priliv SDI iznosio 489,9 miliona eura, što je za 13% više nego 2023. godine.
Najveći dio ovih investicija usmjeren je na sektor nekretnina, dok su
investcije u preduzeća i banke također zabilježila rast.
Ove reforme ne samo da jačaju regulatorni okvir, već i značajno povećavaju
međunarodno povjerenje u crnogorski finansijski sektor, pozicionirajući Crnu
Goru kao privlačnu destinaciju za strane investicije u tradicionalni i
digitalni finansijski sektor, uključujući kripto, infrastrukturu i inovacije.
Brza i efikasna implementacija reformi, odlučan strateški angažman Vlade Crne
Gore, te izuzetno promotivna i proaktivna uloga predsjednika Skupštine Crne
Gore, Andrije Mandića,
čine Crnu Goru izuzetno privlačnom destinacijom za međunarodne investitore,
dodatno afirmišući zemlju kao pouzdanog, inovativnog i strateški
orijentisanog partnera za kapitalne projekte.
Crna Gora, zahvaljujući ovim reformama i strateškim inicijativama, ima
potencijal da postane pravi biser Jadrana, analogno tome kako su Ujedinjeni
Arapski Emirati prepoznati kao vodeći biser Perzijskog zaliva, simbol
stabilnosti, inovacija i privlačnosti za međunarodne investicije.
Suprotno tome, zemlje kao što su Italija, Bugarska, Malta, Kuvajt, Saudijska
Arabija, Alžir i Liban i dalje predstavljaju ozbiljne izazove u dosljednoj
primjeni AML/CFT standarda. Italija se suočava sa slabom implementacijom u
sektorima nekretnina, luksuznih usluga i banaka, dok Bugarska bilježi visoku
korupciju i nedostatak regulatorne dosljednosti. Malta ima regulativu u
finansijskom sektoru i online kockanju, ali neujednačenu primjenu zakona.
Kuvajt i Saudijska Arabija imaju zakonske okvire, ali implementacija i
međunarodna saradnja nisu dovoljno razvijeni, dok Alžir i Liban imaju slab
zakonodavni okvir, nedovoljan nadzor i visok rizik od pranja novca.
U poređenju s tim, Bjelorusija, UAE i Crna Gora pokazuju kako sistematske
reforme, transparentnost i poštovanje međunarodnih standarda mogu stvoriti
sigurno i predvidivo investiciono okruženje, privući kapital i omogućiti
razvoj inovativnih finansijskih i kripto-projekata.
Američka
administracija i finansijska sigurnost – Trumpova strategija 2025. godine
Od januara
2025. godine, administracija predsjednika Donalda Trumpa poduzela je niz
strateških i odlučnih mjera za jačanje finansijske sigurnosti SAD-a, borbu
protiv pranja novca i pozicioniranje zemlje kao globalnog lidera u digitalnoj
ekonomiji. Strateški pristup Trumpove administracije, jedne od najbolje
ocijenjenih u posljednjih 30 godina u rješavanju ovog problema, pokazuje
duboko razumijevanje kompleksnosti međunarodnog finansijskog sistema i
efikasnu primjenu regulatornih reformi.
U julu 2025. godine, Trump je potpisao Zakon GENIUS (Guiding and Establishing National Innovation
for U.S. Stablecoins Act), prvi federalni zakon koji uspostavlja
sveobuhvatan regulatorni okvir za stablecoin kriptovalute. Zakon zahtijeva
potpuno pokriće rezervama, redovne revizije i usklađenost s propisima protiv
pranja novca, čime se omogućava brža i efikasnija prekogranična plaćanja,
osiguravajući povjerenje investitora i globalnu reputaciju američkog
finansijskog sistema.
Izvršna uredba o uspostavi Strateške rezerve Bitcoina i američke digitalne
imovine potpisana je 6. marta 2025. godine, čime su SAD pozicionirane kao
globalni lider u strategiji digitalnih rezervi. Paralelno s tim,
administracija je smanjila regulatorne prepreke za kriptovalute, olakšala
izdavanje stablecoina i podržala inovativne finansijske proizvode, čime je
ubrzan razvoj novih tehnologija u finansijskom sektoru i stvoreno stabilno i
predvidivo okruženje za kapital.
Trumpova administracija striktno primjenjuje FATF standarde, globalne
smjernice za sprječavanje pranja novca i finansiranja terorizma, uključujući
“KYC procedures”
(Know Your Customer
procedures), izvještavanje o sumnjivim transakcijama,
transparentnost stvarnih vlasnika i međunarodnu saradnju. KYC procedure
omogućavaju efikasnu identifikaciju i verifikaciju klijenata, čime se
sprječava zloupotreba finansijskog sistema i dodatno jača povjerenje
investitora.
Kombinacija modernizacije zakonodavnog okvira, strateških investicija u
digitalnu imovinu, smanjenja regulatornih prepreka i pojačane međunarodne
saradnje pozicionira SAD pod Trumpovom administracijom kao globalnog lidera u
finansijskoj sigurnosti i inovacijama. Ove mjere potvrđuju Trumpovu
administraciju kao jednu od najefikasnijih u posljednjih 30 godina u
rješavanju ključnih izazova finansijske sigurnosti, povećavaju povjerenje
investitora, osiguravaju stabilnost i konkurentnost američkog finansijskog
sektora, te jačaju poziciju SAD-a u globalnoj ekonomiji u 2025. Godini.
Zaključak
U
savremenom globalnom finansijskom okruženju stabilnost, predvidivost i
sigurnost kapitala postaju ključni faktori za ekonomski razvoj i održiv rast,
posebno u eri ubrzanog razvoja umjetne inteligencije i kripto-valuta.
Transparentna regulacija, stroga primjena međunarodnih standarda protiv
pranja novca i efikasno praćenje finansijskih tokova omogućavaju smanjenje
rizika, očuvanje integriteta tržišta i jačanje povjerenja investitora, dok
istovremeno otvaraju prostor za sigurno usvajanje inovativnih tehnologija.
Investicije u digitalnu ekonomiju, blockchain i kripto-projekte dodatno
doprinose konkurentnosti i dinamici finansijskog sistema, stvarajući okvir u
kojem kapital i inovacije mogu koegzistirati bez ugrožavanja sigurnosti.
Globalno, agresivne i destruktivne politike velikih ekonomskih sila, poput
Kine, Rusije i Indije, koje nastoje ostvariti stratešku dominaciju kroz
kontrolu tržišta, tehnologija i resursa, dodatno naglašavaju potrebu za
pouzdanim i predvidivim sistemima kontrole kapitala. U tom kontekstu,
Sjedinjene Američke Države imaju ključnu ulogu u suprotstavljanju ovim
destabilizirajućim pritiscima i u aktivnom podsticanju zemalja koje pokazuju
sposobnost održavanja jasnih pravila igre i efikasnih regulatornih okvira,
kao što su Bjelorusija, UAE i Crna Gora, Turska, Azerbajdžan i Čile. Podrška
ovim državama ne samo da jača globalnu stabilnost finansijskih tokova, već i
potiče razvoj inovacija, digitalnih tehnologija i održivog ekonomskog rasta.
Sposobnost implementacije jasnih, efikasnih i predvidivih pravila igre u
finansijskom sektoru postaje strateški imperativ za globalno tržište
kapitala. Zemlje koje uspostave pouzdane sisteme nadzora, transparentnu
regulaciju i efikasnu primjenu međunarodnih standarda stiču konkurentsku
prednost, privlače strateški kapital i jačaju međunarodno povjerenje, dok SAD
i druge demokratske sile mogu igrati ključnu ulogu u oblikovanju stabilnog,
predvidivog i inovativnog globalnog finansijskog okruženja,
Ljubljana/Bruxelles/Washington/Minsk, 24. septembar 2025
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The
International Institute for Middle East and Balkan Studies (IFIMES) based in
Ljubljana, Slovenia, regularly conducts analyses of events spanning the
Middle East, the Balkans, and global affairs. As part of its research
activities, the Institute has produced an analysis of the financial sector
aimed at supporting new investments, strengthening anti-money laundering
controls, and improving business transparency. Particular attention has been
given to the examples of Belarus, the United Arab Emirates (UAE) and
Montenegro, which illustrate the challenges and opportunities in regulating
and securing the investment environment. From the extensive analysis entitled
“Secure and
transparent investments through anti-money laundering controls and
transparency/Безопасные и прозрачные инвестиции с контролем отмывания денег и
прозрачностью”, we highlight the key findings and
recommendations.
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Today’s
global financial market requires far more than mere liquidity and the
movement of capital – it demands stability, investment security, and a
predictable business environment. In a time when market instability or
volatility can wipe out asset value or disrupt capital flows overnight, it is
crucial for investors to operate in countries that guarantee clear rules of
the game, a transparent regulatory framework, and effective mechanisms for
safeguarding the financial system. Institutional and international funds,
managing billions of dollars on behalf of clients, seek jurisdictions where
the risk of eroding trust, unpredictable political decisions, or legal sanctions
are kept to a minimum.
One of the key challenges in this context remains money laundering and
terrorism financing – phenomena that not only undermine the integrity of the
financial system but also directly endanger the reputation of the country and
the investors active in its market. Countries lacking a robust and
consistently enforced anti-money laundering/countering the financing of
terrorism (AML/CFT) framework risk being designated as “high-risk destinations,”
which automatically deters serious investors and may trigger international
restrictions. For this reason, the European Union and global financial
institutions regularly update their lists of high-risk jurisdictions.
Unfortunately, even within the European Union, certain countries continue to
face major challenges in this area – such as Italy, Malta and Bulgaria –
where anti-money laundering controls and crypto market supervision remain
inadequate. A similar situation can be observed in some Gulf countries,
including Kuwait and Saudi Arabia, which are struggling with the slower
implementation of international standards and weaker institutional
coordination.
While Italy, Malta and Bulgaria, despite their membership in the European
Union, still balance between ambitions of financial stability and the
practical challenges of money laundering control and crypto-market
regulation, Belarus, the UAE and Montenegro have taken the opposite course –
proactively shaping their economic and regulatory frameworks to attract
reputable investment. Whereas European and Gulf jurisdictions such as Kuwait
and Saudi Arabia sometimes lag in implementing international standards or
struggle with bureaucratic obstacles, these three countries stand out as
examples of a modern and reliable business environment.
Belarus has strategically leveraged regulatory and technological innovation
to position itself as a stable destination for international investment,
including crypto projects and digital financial platforms. The transparency
of its regulatory framework and the effective control of financial flows
contribute to investor confidence and minimise the risk of legal or
reputational issues.
Through a rigorous AML/CFT framework and clear regulation of digital and
crypto activities, the United Arab Emirates has managed to strike a balance
between innovation and security. This approach has positioned the country as
a regional hub for international financial flows and blockchain technology,
while ensuring investors benefit from a high level of capital protection.
Although a smaller economy, Montenegro distinguishes itself by prioritising
the attraction of foreign capital through a stable legislative framework and
clear procedures for overseeing financial transactions. Its integration into
regional and international financial flows, coupled with the modernisation of
digital services, positions it as a competitive destination compared to
countries that continue to grapple with regulatory challenges.
A blend of robust regulation, openness to innovation and strategic
positioning has allowed these countries to emerge as frontrunners in the
global financial landscape. They not only minimise risks for investors but
also actively shape the future of financial markets, demonstrating that
stability, transparency and innovation can go hand in hand.
Reforms
and country examples: Belarus, UAE and Montenegro
In
recent years, Belarus has made significant strides in strengthening its
financial sector and anti-money laundering framework, resulting in a safer
environment for investors. Stricter regulations on the reporting of
suspicious transactions, reinforced bank supervision, and the implementation
of modern transaction monitoring systems have reduced the incidence of
suspicious activities, while international cooperation with relevant organisations
ensures the practical application of global standards. Decree No. 8 “On the Development of the Digital
Economy”, adopted in 2017, legalised cryptocurrencies and digital
tokens within the High-Tech Park (HTP), and crypto companies apply Know Your
Customer (KYC) procedures, transaction monitoring, and mandatory reporting of
suspicious activities.
Foreign investments in the financial sector rose by more than 18% in 2024 and
2025, while the number of suspicious transactions dropped by 25%, according
to figures from the Central Bank of Belarus. The World Bank has reinforced
this momentum by financing projects totalling over USD 2.5 billion, while the
China–Belarus Industrial Park has continued to attract billions in additional
investment. Statistics for 2024–2025: over 300,000 clients, foreign
transactions worth USD 3 billion, and a 25% decline in suspicious activities.
These reforms make Belarus an attractive destination for foreign investors
seeking a stable and reliable environment for major projects and crypto
innovation.
President Aleksandr
Lukashenko’s policy, which strongly affirm financial
transparency and investment security, gained further confirmation and
international recognition when US President Donald Trump held a phone
conversation with him on 15 August 2025, while on his way to Alaska for a
historic summit with Russian President Vladimir
Putin. The call highlighted Belarus’s importance as a
reliable and innovative destination for global investors.
The United Arab Emirates, for its part, has set an example in the Gulf region
through a comprehensive AML/CFT framework implemented via the Virtual Assets
Regulatory Authority (VARA) and the Abu Dhabi Global Market (ADGM), aligned
with the Financial Action Task Force (FATF) standards. The EU removed the UAE
from its list of high-risk countries under Delegated Regulation (EU)
2025/1184, adopted on 10 June 2025, reflecting the country’s success in
tightening transaction controls, boosting financial sector transparency, and
rigorously applying international standards. This decision significantly
reduces regulatory barriers and increases investor confidence across Europe,
the United States and Asia, making the UAE a secure destination for capital.
Strategic projects in infrastructure, finance and the digital economy are
drawing further foreign investment, while openness to blockchain and crypto
projects positions the UAE as a regional hub for innovative financial
markets.
In 2024, the United Arab Emirates confirmed its status as a leader in the GCC
and a prominent global player in both inbound and outbound capital flows. The
country received a record USD 45.6 billion in foreign direct investment
(FDI), accounting for 37% of total FDI flows in the Middle East and North
Africa, while also making significant outbound investments in international
projects, including USD 310 million in Morocco. These impressive results
underscore the UAE’s reputation as a trusted and innovative partner for
international investors and strategic projects worldwide.
The country’s President, Sheikh
Mohammed bin Zayed, pursues a visionary, globally oriented
policy that enables the UAE not only to assert leadership within the Gulf
Cooperation Council (GCC) but also to gain global recognition as a reliable
and strategic partner in international financial flows, strengthening the
country’s role as a hub for innovation, infrastructure and the digital
economy.
Although a small economy, Montenegro has strategically recognised the
importance of modernising its financial sector, driving digital
transformation and strengthening regulatory transparency. On 12 March 2025,
the Montenegrin Parliament adopted the Law Amending the Law on the Prevention
of Money Laundering and Terrorism Financing (Official Gazette of Montenegro, No. 24/2025),
which came into force on 20 March 2025. The legislation introduced crucial
innovations for the financial sector, including the regulation of crypto
assets and gambling operators, the registration of crypto service providers,
as well as mandatory education and training for prosecutors and police in
monitoring and detecting suspicious transactions.
The measures also include monitoring the ultimate beneficial owners of
companies and identifying money laundering typologies, thereby reducing the
risk of misuse of the financial system and increasing capital security.
Transparent application of AML/CFT standards and compliance with
international norms provide investors from Europe, the United States and Asia
with a reliable and predictable business environment.
At the same time, Montenegro has opened space for the development of the
digital economy and the crypto industry, offering favourable conditions for
innovative financial projects, blockchain initiatives and fintech start-ups.
Through regional integration, infrastructure projects and public-private
partnerships, the country is becoming a competitive destination for strategic
investment and capital growth.
Data from the Central Bank of Montenegro show that total foreign direct
investment (FDI) inflows in 2024 reached EUR 889.8 million, with net inflows
amounting to EUR 489.9 million – 13% higher than in 2023. Most of this
investment went into the real estate sector, while investment in companies
and banks also recorded growth.
These reforms not only strengthen the regulatory framework but also
substantially boost international confidence in Montenegro’s financial
sector, positioning the country as an attractive destination for foreign
investment in both traditional and digital finance, including crypto, infrastructure
and innovation. The swift and effective implementation of reforms, the
determined strategic engagement of the Government of Montenegro, and the
highly proactive role of the Speaker of the Parliament of Montenegro, Andrija Mandić,
make the country an exceptionally appealing destination for international
investors, further establishing Montenegro as a reliable, innovative and
strategically focused partner for capital projects.
Owing to these reforms and strategic initiatives, Montenegro has the potential
to emerge as the jewel of the Adriatic – much as the United Arab Emirates is
recognised as the jewel of the Persian Gulf, symbolising stability,
innovation and international investment appeal.
By contrast, countries including Italy, Bulgaria, Malta, Kuwait, Saudi
Arabia, Algeria and Lebanon continue to face serious shortcomings in the
consistent application of AML/CFT standards. Italy struggles with weak
implementation in the real estate, luxury services and banking sectors;
Bulgaria is marked by high corruption and a lack of regulatory consistency;
and Malta, despite having rules in place for the financial sector and online
gambling, suffers from uneven enforcement. Kuwait and Saudi Arabia possess
legal frameworks, yet implementation and international cooperation remain
underdeveloped, while Algeria and Lebanon contend with a weak legislative
framework, inadequate oversight and a high risk of money laundering.
In comparison, Belarus, the UAE and Montenegro demonstrate how systemic
reforms, transparency and adherence to international standards can create a
safe and predictable investment environment, attract capital and enable the
development of innovative financial and crypto projects.
The
US administration and financial security – Trump’s 2025 strategy
Since
January 2025, President Donald Trump’s administration has undertaken a series
of strategic and decisive measures to bolster US financial security, combat
money laundering and establish the country as a global leader in the digital
economy. Widely regarded as one of the most effective administrations in the
past three decades in tackling this issue, Trump’s team has shown a profound
grasp of the complexities of the international financial system and an
ability to implement regulatory reforms with remarkable efficiency.
In July 2025, Trump signed the GENIUS Act (Guiding and Establishing National
Innovation for U.S. Stablecoins Act), the first federal law to establish a
comprehensive regulatory framework for stablecoins. The Act mandates full reserve
backing, regular audits and strict adherence to anti-money laundering rules,
paving the way for faster and more efficient cross-border payments while
ensuring investor confidence and reinforcing the global standing of the US
financial system.
The Executive Order establishing the Strategic Reserve of Bitcoin and US
digital assets was signed on 6 March 2025, positioning the United States as a
global leader in digital reserves policy. At the same time, the
administration eased regulatory barriers for cryptocurrencies, facilitated
the issuance of stablecoins and supported innovative financial products,
thereby accelerating technological development in the financial sector and
creating a stable, predictable environment for capital.
The Trump administration strictly applies FATF standards, the global
guidelines for preventing money laundering and terrorism financing. This
includes Know Your Customer (KYC) procedures, mandatory reporting of
suspicious transactions, transparency of beneficial ownership and international
cooperation. KYC procedures enable the efficient identification and
verification of clients, preventing misuse of the financial system and
further strengthening investor confidence.
The combination of legislative modernisation, strategic investments in
digital assets, the reduction of regulatory barriers, and stronger
international cooperation has positioned the United States under the Trump
administration as a global leader in financial security and innovation. These
measures underscore the administration’s reputation as one of the most
effective in the past three decades in tackling key challenges to financial
security, boosting investor confidence, safeguarding the stability and
competitiveness of the US financial sector, and strengthening the country’s
standing in the global economy in 2025.
Conclusion
In the
contemporary global financial landscape, stability, predictability, and
capital security have become key factors for economic development and
sustainable growth, particularly in an era of rapid advances in artificial
intelligence and cryptocurrencies. Transparent regulation, rigorous
enforcement of international anti-money laundering standards and effective
oversight of financial flows help to mitigate risks, preserve market integrity
and strengthen investor confidence, while simultaneously creating the
conditions for the secure adoption of innovative technologies. Investments in
the digital economy, blockchain and crypto initiatives further enhance the
competitiveness and dynamism of the financial system, establishing a
framework in which capital and innovation can coexist without jeopardising
security.
At the global level, the aggressive and disruptive policies of major economic
powers – including China, Russia and India – which pursue strategic dominance
through control of markets, technologies and resources, underscore the need
for reliable and predictable systems of capital oversight. In this context,
the United States has a pivotal role to play in resisting these destabilising
pressures and in actively supporting countries capable of upholding clear
rules and effective regulatory frameworks, among them Belarus, the UAE,
Montenegro, Turkey, Azerbaijan and Chile. Such support not only enhances the
global stability of financial flows but also drives innovation, digital
technologies and sustainable economic growth.
The capacity to enforce clear, effective and predictable rules in the
financial sector has become a strategic imperative for global capital
markets. Countries that build reliable supervisory systems, transparent
regulation and consistent implementation of international standards secure a
competitive advantage, attract strategic capital and reinforce international
trust, while the United States and other democratic powers can play a pivotal
role in shaping a stable, predictable and innovative global financial
environment.
Ljubljana/Brussels/Washington/Minsk, 24 September 2025
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