The Ministry of Economy and Dubai Police General Command have inked a Memorandum of Understanding (mou) to improve collaboration and coordination in creating compliance measures for anti-money laundering (AML) and combating the funding of terrorism (CFT) standards. The agreement strengthens supervisory powers within the national legal framework by facilitating information integration and interchange between the two agencies.
The Memorandum of Understanding was signed during the fourth edition of the World Police Summit, which was hosted at the Dubai World Trade Centre. It was sponsored by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the UAE’s vice president, prime minister, and ruler of Dubai. Major General Expert Khalil Ibrahim Al Mansoori, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police, and Safia Hashim Al Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry of Economy, inked the deal.
Safia Al Safi emphasised that the UAE has made great progress in creating cutting-edge plans, regulations, and laws to fight money laundering and terrorism funding in accordance with the strictest international standards. This has further strengthened the country’s economy as a hub for competitive commerce and business that upholds the greatest norms of honesty and openness. He pointed out that the Ministry’s goal to improve cooperation with both federal and local organisations is in line with the engagement with Dubai Police.
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