According to Amac News: The MoU aims to achieve the strategic objectives of both parties, strengthen trust in the UAE’s financial system, and strengthen the country’s leading position globally.
The MoU was signed by Fatima Al Jabri, Deputy Director of the Financial Crimes, Market Conduct and Consumer Protection Department at the Central Bank, and Faisal Bin Sulaytin, CEO of the Dubai Economic Security Centre, in the presence of deputies and senior officials from both institutions.
The MoU aims to develop cooperation between the Central Bank of the Emirates and the Dubai Economic Security Centre in areas of common interest, exchange information on best practices and international guidelines in combating financial crime.
The MoU also addresses the UAE’s role in the Financial Action Task Force (FATF) and the challenges and solutions it supports national initiatives.
In addition, it addresses strengthening professional skills, training staff and implementing joint awareness campaigns to combat financial crimes.
Fatima Al Jabri said that the Central Bank of the UAE is committed to developing national capabilities in combating various types of financial crimes amid rapid developments and technological advances.
Faisal bin Sulayeen also stated: “This MoU is a key step in strengthening our strategic cooperation to address the challenges in the field of financial crimes. This agreement will help maintain the economic and financial security of the UAE.”