According to the MoU, respective entities identified aspects of cooperation represented in coordinating work and joint efforts and ways to enhance them in the areas of combating money laundering and financial of terrorism, by providing a common framework for sharing information and experiences.
H.E Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE and Chairperson of the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organizations, stated: “The MoU comes in line with the interest of the UAE in contributing effectively with the international community to achieve common goals in the field of information exchange for the purpose of cooperation for the public interest. We also aim, through this cooperation, to establish a framework for coordination between the authorities, especially with regard to combating money laundering and terrorist financing that requires concerted efforts, and in accordance with the laws related to the terms of this memorandum.
Mr. Ali Faisal Ba’Alawi, Acting Head of the Financial Intelligence Unit for the UAE, said: “The signing of the Memorandum of Understanding with the Kingdom of Bahrain and the Republic of Namibia is a clear indication of our keenness to combat these crimes through the cooperation of the units in assembling, developing and analyzing information related to suspected money laundering associated predicate offences or terrorist financing, and exchanging the widest range of available or obtainable information.
