Page 788 - MOE ENGLISH PR REPORT - JANUARY 2025

1/16/25, 2:05 PM Ministry of Economy unveils specialised training programme for DNFBP sectors – The Gulf Time Newspaper
Ministry of Economy unveils specialised training

programme for DNFBP sectors

ABU DHABI/WAM

The Ministry of Economy has launched a specialised training programme aimed at developing capacities, professional skills,
and compliance awareness among compliance officers in Designated Non-Financial Businesses and Professions (DNFBPs),
under its supervision, and private sector employees to combat money laundering and counter the financing of terrorism.
This initiative, developed in collaboration with the International Compliance Association (ICA), is designed to create a safe
environment for conducting and establishing businesses. It seeks to provide an attractive climate for business and investment
across various sectors while promoting a resilient and forward-looking economic model that ensures stability and aligns with
future trends.
Safeya Hashem Al Safi, Acting Assistant Under-Secretary for the Commercial Control and Governance Sector, stated that the
programme is part of the ministry’s ongoing efforts to enhance the knowledge and skills of compliance professionals within the
DNFBPs, focusing on the risks and requirements of combating money laundering and terrorist financing.
“It aims to raise the level of compliance culture among the entities under the ministry’s supervision and to strengthen their role
in combating money laundering and terrorist financing crimes. This is to solidify the UAE’s position as a competitive economic

hub that applies the highest standards of financial integrity,” she added.
Safeya Al Safi emphasised that collaboration with the ICA marks a significant step towards training compliance officers, who
specialise in implementing the highest standards of compliance within companies operating in the DNFBPs sectors, overseen
by the Ministry of Economy.
These sectors include real estate agents and brokers, traders of precious metals and gemstones, auditors, and corporate
service providers, all adhering to international best practices. This initiative will play a key role in fostering a stable economic
environment and boosting confidence in the country’s investment climate.
Under this first-of-its-kind initiative, certification titled ‘ICA/MoEc Certificate in AML/CFT DNFBPs’ will be awarded to
compliance officers and private sector employees who successfully complete the programme. This presents an ideal
opportunity for DNFBP compliance officers, professionals from other sectors, recent graduates, and stakeholders to develop
their skills and learn global standards for combating financial crimes.
The programme, which spans four months and features six core modules, offers an in-depth exploration of key topics such as
money laundering and terrorist financing, global standards and compliance obligations, money laundering and terrorist
financing risk assessment, due diligence and enhanced due diligence, suspicious activity reporting requirements, targeted
financial sanctions guidelines, governance frameworks, and internal controls.

https://gulftime.ae/ministry-of-economy-unveils-specialised-training-programme-for-dnfbp-sectors/ 1/2