The UAE Ministry of Economy has signed several Memorandums of Understanding (MoUs) with key national authorities. These include the Economic Security Centre of Dubai (ESCD) and the Dubai Land Department (DLD). The agreements aim to improve the UAE’s regulatory infrastructure and strengthen financial crime prevention. They align with international standards on integrity and transparency.
The “Role of the Designated Non-Financial Businesses and Professions (DNFBPs) Sector in Combating Financial Crimes” summit in Dubai signed the MoUs. Key officials at the event included 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.
Enhancing Collaboration for Effective Financial Crime Prevention
The MoUs were signed by Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy, and other senior officials. The agreements aim to improve data exchange and boost the Ministry’s ability to supervise under national laws. They also establish frameworks for technical cooperation, capacity building, and knowledge sharing.
These partnerships will support the country’s efforts to combat financial crimes. They will also ensure secure and legally compliant data sharing among signatories.
Commitment to Global Standards and Sustainable Growth
The officials at the signing ceremony emphasized the importance of national collaboration in tackling financial crimes. They highlighted the need to address challenges like money laundering and terrorism financing. These efforts will prepare the UAE for the upcoming mutual evaluation, improve compliance, and strengthen financial security.
The collaboration will help the UAE address cross-border crimes and contribute to its sustainable economic growth. It will also support the nation’s position as a leading global financial hub
