The Ministry of Economy has signed agreements on cooperation with several organizations in the field of combating money laundering and terrorist financing. Among them are the Dubai Economic Security Center and Dubai's Department of Land and Property. The goal is to strengthen national efforts to develop controlling oversight infrastructure, ensuring transparency and integrity, combating financial crimes in the country, based on international best practices, sharing data and information on this issue, and strengthening the control function of the ministry within the framework of relevant national legislation.
The statement was made against the backdrop of the summit "Sector of Entrepreneurship and Specialized Non-Monetary Professions in the Fight Against Financial Crimes," which recently took place in Dubai. The Minister of Economy Abdulla ben Touq al-Mari, the Minister of Justice Abdulla Sultan ben Awad al-Nuaimi, and the state minister Ahmed as-Sayghi attended the signing of the agreements on cooperation.
This step marks the beginning of the support period for organizational interaction and partnership between the interested national institutions, which contributes to improving the systems of control and supervision, providing information sharing between signatory parties in matters of combating financial crimes in the UAE.
The agreements focus on creating clear frameworks for technical cooperation, sharing experiences and developing capabilities, as well as ensuring safe mechanisms for sharing data and information with due regard for confidentiality and privacy, in accordance with relevant legislation and regulations.
The representatives of the signing parties underscored the importance of strengthening national efforts to combat challenges related to money laundering, terrorist financing, the spread of weapons, and their systematic counteraction, which serves to prepare for the upcoming mutual assessment of the country.
