Manama, Nov. 18 (BNA): The National Anti Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee of the United Arab Emirates (NAMLCFTC) and the Anti-Money Laundering and Counter-Terrorism Financing Committee signed a Memorandum of Understanding (MoU).
Anti Money Laundering and Counter-Terrorism Financing Committee signs MoU with its UAE counterpart
Hamid Al Zaabi, Secretary General and Vice-Chair of the NAMLCFTC, and Shaikha May bint Mohammed Al Khalifa, Chief Executive of the Financial Intelligence National Center and Committee Chair, signed the Memorandum of Understanding.
In the areas of anti money laundering, counterterrorism finance, and preventing the funding of the spread of WMDs, the MoU seeks to improve collaboration and knowledge sharing. Additionally, it describes the broad structure for collaboration between the two parties in terms of sharing best practices, building operational capabilities, and planning cooperative training sessions and workshops.
Additionally, it supports adherence to international norms and improves the effectiveness of the AML/CFT system.
