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ABU DHABI, 8th December, 2022 (WAM) — The Central Bank of the United Arab Emirates, CBUAE, in collaboration with the Ministry of Interior, MoI, and some partners, is making continuous efforts to strengthen the fight against all framework, governance and enforcement mechanisms and close follow-up of all operations to combat all forms of financial crime and money laundering.
In the context of the integrated work, advocacy efforts and procedures continued within the framework of the ‘Dar Transfer’ campaign launched by the CBUAE in partnership with the MoI, in line with the UAE’s relentless efforts to ensure community safety and enhance a safe economy and investment environment.
Through awareness, the law enforcement agency aims to increase community awareness of remittance laws, regulations, and standards to ensure the transparency and integrity of transactions are maintained through registered hawala brokers.
The tools and means applied vary and include close follow-up and monitoring, a transparent financial system enhanced by security systems that ensure the safety of financial transactions, and flexible legislation that ensures the accurate, rapid and free movement of funds through a leading governance system.
Khalid Mohammed Balama, Governor of CBUAE and Chairman of the National Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations Committee, said, “The central bank has launched the hawala broker registration system to ensure transparency in the application of brokers who are registered before us. Integrity and financial governance in transactions, as well as implementing measures to combat money laundering, combat terrorism financing and protect the UAE financial system.”
“The Central Bank will continue to take all measures to ensure that the integrity of the financial system is maintained and that all financial transactions in the UAE comply with the requirements guaranteed by the system of registered hawala brokers,” he added.
Brigadier General Abdulaziz Al Ahmad, Deputy Director General of the Federal Criminal Police at the Ministry of the Interior and Chairman of the Subcommittee for the Investigation of Money Laundering Crimes under the National Committee to Combat Money Laundering and the Financing of Terrorism and the Financing of Illegal Organizations, said that the UAE adopts transparency, follow-up and governance in the field of financial transactions, Because the relevant authorities work in an integrated manner according to the work system to strengthen the fight against money laundering and related crimes, based on strategies and directives from the UAE government aimed at enhancing security, providing an appropriate environment for economic and investment growth, and improving the country’s international reputation. reputation on the forum.
He also stressed that work is continuing to support the efforts of the Supreme Council to oversee the National Strategy to Combat Money Laundering and Terrorist Financing, with the aim of strengthening the UAE’s efforts in enhancing the country’s capabilities and strengthening its working systems to counter such activities, in line with international best practices. Capabilities of national cadres in the areas of investigation, financial analysis, seizure, control and governance related to related crimes.
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