The UAE Ministry of Economy has signed MoUs with key national authorities, including the Economic Security Centre of Dubai (ESCD) and the Dubai Land Department (DLD) to enhance cooperation in combating money laundering and financial crimes.
The signing ceremony, took place on the sidelines of the “Role of the Designated Non-Financial Businesses and Professions (DNFBPs) Sector in Combating Financial Crimes” summit, was attended by 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.
The MoUs were signed by Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy; Safeya Hashem Al Safi, Assistant Under-Secretary for the Commercial Control and Governance Sector; Faisal Yousef bin Selaitin, CEO of the Economic Security Centre of Dubai; and Majid Saqr Al Marri, CEO of the Real Estate Registration Sector at the Dubai Land Department, along with other government officials.
The agreements seek to enhance national efforts in developing the regulatory infrastructure, strengthening integrity and transparency systems, and refining mechanisms to tackle financial crimes in line with international best practices.
Additionally, the MoUs support the Ministry’s supervisory role under the relevant national legislation, and establish clearly defined frameworks for technical cooperation, capacity building, and knowledge exchange, as well as secure data sharing mechanisms, ensuring confidentiality and compliance with relevant legal and regulatory frameworks.
During the signing ceremony, representatives affirmed the significance of strengthening national efforts to tackle the issues of money laundering, terrorism financing, and the proliferation of weapons, through a sustainable and institutional approach.
They highlighted that these measures support the UAE’s readiness for the upcoming mutual evaluation, help ensure high levels of legislative and regulatory compliance and enhance efficiencies in addressing cross-border financial crimes.
Additionally, such efforts also contribute to sustainable economic growth and improve the country’s ranking in global competitiveness indices. Furthermore, the representatives reiterated their full commitment to supporting initiatives that strengthen national economic and financial security.
