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UAE Central Bank and Dubai Police Join Forces to Combat Financial Crimes

The Central Bank of the UAE (CBUAE) and the Dubai Police have signed a memorandum of understanding (MoU) aimed at promoting cooperation, coordination, and partnership in the exchange of information related to financial crimes. The key objectives of the MoU include facilitating communication between the two parties to exchange information on suspicious financial activities and complex money laundering plans. Additionally, it involves joint inspections, awareness campaigns on emerging financial crime patterns, and cooperation in training and technical support.

Khaled Mohamed Balama, Governor of the Central Bank of the UAE, emphasized that the collaboration with all national competent authorities, including the Dubai Police, is essential to combat money laundering, terrorism financing, and financial crimes effectively. The MoU is seen as significant in strengthening national efforts to fight financial crimes, enhance financial stability, and support the country’s financial and economic system.

Major General Abdullah Khalifa Al Marri, Commander in Chief of Dubai Police, highlighted the importance of the MoU in line with the country’s strategic directions to activate joint cooperation mechanisms in combating money laundering crimes. The UAE’s efforts in combating money laundering have been consolidated through collaboration between various government entities, and this MoU is a crucial step forward in enhancing capabilities to combat financial crimes and protect the integrity of the financial system.

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