UAE’s Financial Intelligence Unit and Pakistan sign MoU to combat financial crimes

Abu Dhabi: The Financial Intelligence Unit (FIU) of the UAE signed a Memorandum of Understanding (MoU) with the Financial Monitoring Unit of Pakistan to combat money laundering and financing of terrorism.

The MoU signed on Wednesday by Ghulam Dastgir, Ambassador of Pakistan to UAE and Ali Faisal Ba’Alawi, Acting Head of the Financial Intelligence Unit of UAE, comes in line with international efforts to exchange financial information and expertise, as well as collaborate with relevant authorities and stakeholders to combat financial crimes.

Commenting on the MoU signing, Ghulam Dastgir, Ambassador of Pakistan to the UAE, underlined that cooperation in exchange of information related to money laundering played an important role in combating money laundering and related crimes. “Signing the MoU reflects the strong commitment of the Government of Pakistan to enhance cooperation with the international community on combating money laundering and financing of terrorism,” said Dastgir,

“The MoU with the Financial Monitoring Unit of the Islamic Republic of Pakistan comes in line with the interest of the UAE in contributing effectively to the international community’s common goal to exchange financial information related to money laundering and terrorism financing crimes. This MoU also reflects the strong and deep relations between the UAE and Pakistan,” said Ali Faisal Ba’Alawi, Acting Head of the Financial Intelligence Unit for the UAE

The Financial Intelligence Unit of the UAE was established under the Federal Decree law no. 20 of 2018 on Anti-Money Laundering and Combating Financing of Terrorism and Illegal Organisations.