Page 438 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

P. 438

4/23/25, 3:56 PM UAE: New MoUs to boost cooperation in combating money laundering, financial crimes
The MoUs also facilitate the exchange of data and information, while supporting the Ministry’s
supervisory role under the relevant national legislation.

The signing ceremony was held on the sidelines of the “Role of the Designated Non-Financial
Businesses and Professions (DNFBPs) Sector in Combating Financial Crimes" summit, which took

place recently in Dubai.

It was attended by Abdullah bin Touq Al Marri, Minister of Economy; Abdullah bin Sultan bin Awad Al
Nuaimi, Minister of Justice; and Ahmed Al Sayegh, Minister of State.

The MoUs were signed by Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy;
Safeya Hashem Al Safi, Assistant Under-Secretary for the Commercial Control and Governance Sector;

Faisal Yousef bin Selaitin, CEO of the Economic Security Centre of Dubai; and Majid Saqr Al Marri, CEO
of the Real Estate Registration Sector at the Dubai Land Department, along with other government
officials.

The initiative is part of continuing efforts to strengthen institutional integration and partnerships to
improve monitoring and compliance systems and facilitate the exchange of data among signatories, in

support of their shared objectives to counter financial crimes in the UAE.

The MoUs establish clearly defined frameworks for technical cooperation, capacity building, and
knowledge exchange, as well as secure data sharing mechanisms that ensure confidentiality and
compliance with relevant legal and regulatory frameworks.

Representatives of the signatory entities affirmed the importance of enhancing national efforts to
address the challenges of money laundering, terrorism financing, and the proliferation of weapons,
through a sustainable and institutional approach.

They emphasised that such efforts support the UAE’s readiness for the upcoming mutual evaluation,
help ensure high levels of legislative and regulatory compliance and improve efficiencies in addressing

cross-border financial crimes. These measures also contribute to achieving sustainable economic
growth and improving the country’s ranking in global competitiveness indices.

The representatives reiterated their full commitment to supporting initiatives that protect the national
economy and strengthen financial security.