Dubai Police, Central Bank team up in fight against financial crime

Dubai Police and the Central Bank of the UAE (CBUAE) have signed a Memorandum of Understanding (MoU) to work together to strengthen the fight against financial crime.

The MoU promotes cooperation coordination and partnership in the field of information exchange related to financial crimes to achieve strategic common goals.

They'll also work together to detect complex money laundering plans, and monitor suspicious financial activities. Also included is a commitment to conducting joint inspections, running awareness campaigns, and cooperation in training and technical support for both parties.

The MoU was signed by Khaled Mohamed Balama, Governor of the Central Bank of the UAE, Chairman of the National Committee for Combating Money Laundering and Financing of Terrorism and Illegal Organisations, and Major General Abdullah Khalifa Al Marri, Commander in Chief of Dubai Police.

Khaled Balama said, “This MoU is significant to achieve our common goals by exchanging supervisory information to strengthen the national efforts in fighting financial crimes, enhancing financial stability and supporting the country's financial and economic system.”

Major General Abdullah Al Marri said ““The UAE has made great efforts in combating money laundering and is continuing to do so. Within this framework, the efforts of all concerned government entities have joined forces to consolidate their capabilities in combating financial crimes."

This MoU is a step forward in the joint efforts to enhance capabilities to combat this type of crime, and by working closely together, we can be more effective in protecting and protecting the integrity of the financial system.”

The @DubaiPoliceHQ and the @CentralBankUAE signed a memorandum of understanding (MoU) to enhance cooperation mechanisms for information exchange on financial crimes. pic.twitter.com/RrveS93q9J

— Dubai Policeشرطة دبي (@DubaiPoliceHQ) July 20, 2023