Page 120 - AAE PR REPORT

Page 120 - AAE PR REPORT - MAY 2025

P. 120

5/23/25, 9:40 AM FERG strengthens industry stand on financial crime compliance at 13th Annual Summit
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.

About FERG
The Foreign Exchange and Remittance Group (FERG) is a non-profit organisation based on the initiative of the Central Bank of UAE. FERG
comprises companies engaged in the business of money exchange and remittances, from large sized companies in the UAE with over 100 branches,
to single-branch outlets to join a common platform and work towards mutual benefits. FERG, as an organisation through its members, not only
complies with the UAE’s financial regulations, but also plays a significant role in providing information to the entire industry and works closely with
most of its members to ensure all requirements and implementation are being promoted.

The Group has also taken up issues that have led to favourable policy amendments by the Central Bank of the UAE, promoted Emiratisation, and
supported the implementation of the Wage Protection System. FERG regularly liaises with national police departments to combat dubious financial
transactions and works with the Central Bank to implement strict AML policies.

For Media Queries:
Anas Khaleliah
akhaleliah@quillmena.com