June 21, 2024

EO AML/CTF signs MOU with Emirates Institute of Finance

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Executive office of AML/CTF signs MoU with Emirates Institute of Finance

The Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF) has signed a memorandum of understanding with the Emirates Institute of Finance (EIF) to enhance collaboration and support policy development and research in the fields of money laundering,terrorism financing, and proliferation financing in the UAE and internationally.

The MoU was signed by HE Hamid AlZaabi, Director General of the EO AML/CTF, and HE Noura Alblooshi, Acting General Manager of the Emirates Institute of Finance, in the presence of HE Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Chairman of Emirates Institute of Finance.

The MoU has been drafted to support the organisationalgoals of the EO AML/CTF and Emirates Institute of Finance and is primarily concerned with the undertaking of original research in line with the UAE’s evidence-based approach to financial crime. Research carried out through the MoU will be shared with the wider AML/CFT community in the UAE, as well as decision makers involved in national policy development.

HE Hamid AlZaabi, Director General of the EO AML/CTF

HE Hamid AlZaabi, Director General of the EO AML/CTF, welcomed the signing of the MoU as an important addition tothe UAE’s AML/CFT system. He explained, “The UAE implements an evidence-based approach to policy development and risk assessment, and this relies on cutting edge and up-to-date research for it to be most effective. I am delighted to sign this MoU with the Emirates Institute of Finance, a leading research centre in the UAE and wider MENA region with a deserved reputation for high-quality studies. We will co-commission research that enhances our knowledge in areas beneficial to those working to deliver the UAE’s National Action Plan and exchange information to build expertise among our partners in the fight against financial crime.”

HE Noura Alblooshi, Acting General Manager of the Emirates Institute of Finance

HE Noura Alblooshi, Acting General Manager of the Emirates Institute of Finance, commented, “We are grateful for the opportunity to work with the Executive Office of Anti-Money Laundering and Counter-Terrorism Financing on this important project. The UAE has been at the forefront of efforts to combat financial crime, and we hope that this collaboration will contribute to the country’s continued success in this area. We are committed to producing rigorous and relevant training programmes that can inform policy and practice at the Emirates Institute of Finance, and we look forward to working closely with the EO AML/CTF to advance the trainees understanding of money laundering and terrorism financing.”

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