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5/23/25, 9:38 AM FERG reinforces commitment to Financial Crime Compliance at 13th Annual Summit | mea-finance.com
FERG reinforces commitment to Financial Crime

Compliance at 13th Annual Summit

By MEA Finance - May 23, 2025

The UAE’s Foreign Exchange and Remittance Group (FERG) concluded the 13th edition of its Annual Financial Crime Summit today in
Dubai, affirming its role as a key voice in the financial sector’s efforts to combat economic crime and reinforce compliance standards
across the industry.

Held under the theme “Innovation, Integrity, and Intelligence in Compliance,” the event brought together compliance leaders, regulators,
and members of financial institutions to deliberate on new challenges and cooperative strategies in an evolving regulatory landscape.

In his opening remarks, Osama Al Rahma, Chairman of FERG underscored the organisation’s renewed commitment to regulatory
partnership and sector-wide advancement. He said, “FERG continues to evolve as a bridge between policy and practice. As global
financial crimes become more sophisticated, our collective responsibility is to ensure that compliance measures are not only robust but
also agile and aligned with innovation. We are committed to upholding a unified, informed, and secure financial ecosystem that supports
both transparency and growth.”

The summit featured a keynote address by Jamal Saleh, Director General, UAE Banks Federation along with panel discussions led by
senior representatives from the EY MENA, K2 Integrity, Norton Rose Fulbright, and exchange houses that are part of FERG. These
sessions addressed pressing topics such as the integration of Governance, Risk, and Compliance (GRC) frameworks in a digital era,
navigating the future of financial services technology and compliance, as well as strengthening MSB compliance posture. A dedicated
presentation by the Central Bank of the UAE also shed light on the AML/CFT supervision and the National Risk Assessment 2024.

Rashed Al Ansari, Vice Chairman of FERG and CEO of Al Ansari Exchange, said, “As the first line of defence against financial
crime, financial service providers must ensure that compliance is not treated as a procedural necessity, but rather as a core value
embedded into every level of the organisation. This summit reflects our joint ambition to lead with integrity while enabling innovation
and inclusion in financial services.”

The event also marked an opportunity for FERG’s new leadership to reinforce the organisation’s strategic direction. With a renewed focus
on empowering members through knowledge-sharing, policy advocacy, and operational best practices, FERG aims to continue raising the
bar for compliance excellence in the UAE.

Rajiv Raipancholia, Treasurer of FERG and CEO of Orient Exchange Co. (L.L.C), said, “The UAE’s exchange and remittance sector
has long been a pillar of the nation’s financial infrastructure. FERG’s role is not just to ensure compliance readiness among our members,
but to champion a future-ready mindset, where innovation, regulation, and ethical practice converge to protect the integrity of our
financial system.”

The summit concluded with a renewed call for stronger public-private partnerships to address emerging threats and foster a global
compliance culture.

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