Dubai: The UAE Financial Intelligence Unit (FIU) has partnered with the China Anti-Money Laundering Monitoring and Analysis Centre (CAMLMAC) to facilitate cooperation on the exchange of intelligence concerning anti-money laundering and combatting the financing of terrorism.
The MoU is in line with the objectives of the UAE and the People’s Republic of China in having their respective authorities cooperate on the assembly, development, and analysis of intelligence on financial transactions suspected of being related to money laundering and terrorist financing.
We will continue our ongoing joint efforts to confront all suspicious activities both regionally and internationally and we will seek to reduce the threats these activities pose to the stability and integrity of the global financial system.
Exchange of information
The UAE FIU and the CAMLMAC will exchange relevant information on investigations conducted by the authorities of their respective jurisdictions concerning financial transactions related to money laundering, terrorist financing, and the persons or entities involved, in accordance with domestic and international laws and regulations.
The MoU was signed by Ali Faisal Ba’alawi, Head of the UAE FIU, and Gou Wenjun, Director General of the CAMLMAC. The virtual signing ceremony was attended by Dr. Ali Obaid Al Dhaheri, the UAE’s Ambassador to the People's Republic of China, Saleh Aldheb, Head of the Economic Affairs Section at the UAE Embassy in China, and Zhou Chunli, Economic Counsellor at the People's Republic of China Embassy in the UAE.
“‘CAMLMAC attaches high importance to its cooperation with foreign counterparts. In recent years, the comprehensive strategic partnership between China and the UAE has grown deeper," said Gou Wenjun, Director General of the CAMLMAC. "The UAE has become China’s largest export market and second largest trade partner in the Arab World. The bilateral cooperation between both countries have made great progress."