Monday, September 18, 2023 – 1:56 PM
Abu Dhabi, September 18 / WAM / The Ministry of Economy, represented by the Department of Combating Money Laundering and Combating the Financing of Terrorism, held a two-day workshop in cooperation with the Securities and Commodities Authority, with the aim of enhancing cooperation and exchanging experiences regarding measures to combat money laundering and combat the financing of terrorism in the country.
His Excellency Abdullah Al Saleh, Undersecretary of the Ministry of Economy, said that organizing this workshop comes within the framework of the Ministry’s commitment to enhancing the readiness of its cadres and raising their level of competence by providing them with the necessary knowledge and skills on the one hand, and building a strong culture of compliance in the economic and financial system of the UAE on the other hand, including It contributes to applying the highest standards of integrity and transparency and confronting improper financial practices in business activities.
For her part, Her Excellency Dr. Maryam Butti Al Suwaidi, CEO of the Securities and Commodities Authority, stressed the importance of these workshops in raising the level of awareness and enhancing mutual coordination between members of the technical teams concerned with the file of combating money laundering and combating the financing of terrorism, noting that joint efforts between the Ministry of Economy and the Authority are continuing from In order to identify relevant emerging risks and ensure compatibility with the legal and regulatory framework to confront money laundering and combat the financing of terrorism, as holding these workshops has a significant impact in supporting the business environment in the country.
For her part, Safia Al-Safi, Director of the Money Laundering Department at the Ministry of Economy, said that the Ministry aims, through its cooperation with its strategic partners at the local and global levels, to increase the effectiveness of the system for combating money laundering and combating the financing of terrorism in the country, in a way that contributes to the application of the best practices and procedures followed in this regard, and ensures Raising the level of compliance and commitment to international requirements and maintaining the status and position of the national economy regionally and globally.
The workshop addressed several main topics, focusing on the practices applied regarding ways to evaluate money laundering risks, the mechanism of oversight and inspection of procedures to combat money laundering, the applied systems, enforcement procedures, imposition of penalties, the grievance mechanism, and the corrective procedures applied.
Dina Omar
2023-09-18 10:01:04
#Ministry #Economy #Securities #Commodities #hold #workshop #enhance #cooperation #combating #money #laundering #combating #financing #terrorism
