UAE’s EO AML/CTF seals MoU with Emirates Institute of Finance

By Shilpa Annie Joseph, Official Reporter
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UAE’s Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF) has signed a Memorandum of Understanding (MoU) with the Emirates Institute of Finance (EIF) in order to enhance collaboration and support policy development.

Further, it intends to improve research in the fields of money laundering, terrorism financing, and proliferation financing in the UAE and internationally.

The MoU has been drafted to support the organizational goals 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.

According to the statement, “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.”

Hamid Al Zaabi
Hamid Al Zaabi

“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 center 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.”

Ms. Noura Alblooshi, Acting General Manager of the Emirates Institute of Finance, said that, “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 programs 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,” Ms. Alblooshi added.

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