Abu Dhabi: The UAE Central Bank on Tuesday announced that it will next week sign a memoranda of understanding (MoUs) with 14 countries to coordinate efforts to counter money laundering and to combat terrorism financing and the related financial crimes.
The MoU will be signed on the sidelines of the joint meeting of the International Working Group of Financial Action Task Force and the Middle East and North Africa Financial Action Task Force which will be held in Abu Dhabi between February 14 and 19.
Deputy Executive Director of the UAE Central Bank and the head of its Anti-Money Laundering and Suspicious Cases Unit Abdul Rahim Al Awadi said at a press conference yesterday that the unit has signed 22 MoUs with their counterparts from foreign financial intelligence units, in line with the initiative of the UAE for sharing and exchanging financial information.
Uniting efforts
These MoUs were signed in order to coordinate with the world countries and unite efforts against money laundering and to combat terrorism financing and related financial crimes.
He revealed that financial intelligence units in a number of other countries have expressed their desire to sign similar MoUs with the UAE Central Bank on the sidelines of the meeting.
These countries include Argentina, Qatar, Greece, Egypt, Mexico, Saudi Arabia, Finland, the United States, France, Bahrain, Syria, Oman, Singapore and Spain.
