The UAE Ministry of Economy and Tourism (MoET) has signed a Memorandum of Understanding (MoU) with the Emirates Institute of Finance (EIF) in order to boost national capabilities in financial supervision, governance, and anti-money laundering (AML) efforts.
The agreement was signed at the Abu Dhabi National Exhibition Centre (ADNEC) on the sidelines of the EIF’s Ethraa program graduation ceremony by Safeya Hashim AlSafi, Assistant Undersecretary for the Control and Commercial Governance Sector at the Ministry, and Marwan Al Mheiri, CEO of the EIF.
Under the MoU, MoET and EIF will collaborate to design and implement specialized training programs focused on building the competencies of compliance personnel working within Designated Non-Financial Businesses and Professions (DNFBPs).
These programs aim to strengthen regulatory awareness, enhance adherence to compliance requirements, and ensure that professionals are adequately equipped to identify and manage financial crime risks within their respective sectors.
MoET and EIF strengthen National Economic Resilience
The MoET and EIF collaboration is aimed at strengthening key compliance functions, including risk assessment, customer due diligence, and the monitoring of suspicious transactions, in accordance with Financial Action Task Force (FATF) standards. This initiative is designed to reinforce safeguards against money laundering and the financing of terrorism by improving the effectiveness and consistency of preventive measures across relevant entities.
The partnership also includes the exchange of research outputs, technical reports, and the organization of joint workshops. These collaborative efforts are intended to support evidence-based decision-making, strengthen institutional capacity and performance, and contribute to the advancement of the ‘We the UAE 2031’ vision, particularly its goals of fostering a competitive, resilient, and sustainable economy.
