The CBUAE and the Dubai Economic Security Center have signed an MoU for enhanced cooperation and information sharing in combating financial crime. The partnership aims to create a strong sense of confidence in the financial system of the UAE and reinforce its position as a significant financial hub worldwide.

PC: Zawya
It was the witnessing of the signing ceremony presided over by H.E Khaled Mohamed Balama, Governor of the CBUAE, marking one giant step towards unifying efforts to combat financial crime. The MoU was signed by H.E Fatma Al Jabri, Assistant Governor for Financial Crime, Market Conduct, and Consumer Protection at the CBUAE, and H.E Faisal bin Sulaitin, the CEO, Economic Security Center of Dubai. The signing event garnered the presence of Assistant Governors and senior officials from both entities.
The MoU lays the groundwork for cooperation between the two institutions on areas of common interest, particularly toward sharing information on best practices and international guidelines to combat financial crime, including UAE participation in the Financial Action Task Force (FATF) and addressing key challenges with solutions in support of national initiatives. The agreement further aims to build synergies on capacity building, staff training, and joint awareness campaigns against financial crime.
H.E Fatma Al Jabri termed the MoU an important step unifying local efforts in addressing a global challenge posed by financial crime. She noted that the Central Bank is committed to enhancing national capabilities on combating various forms of financial crime, especially with the fast pace of technological development. The CBUAE continues to partner with both local and federal entities in this regard per the vision and directives of the UAE state leadership.These initiatives are undertaken with the purpose of developing and supporting sustainable, economic growth; protecting and enhancing coastal trust; and economic and sustainable development.
His Excellency Faisal bin Sulaitin worked to underscore the importance of this MoU to reinforce the strategic partnership between the two institutions. He states that the collaboration will ensure the exchange of best practices and the development of innovative solutions to counter emerging financial crimes. The agreement focuses on building national expertise and enhancing capabilities in order to ensure the protection of the UAE’s economic and financial security. These measures fall in line with the vision of the leadership to have a safe and sustainable economy.
Formalization of the relationship provides proof of commitment to mutual strengthening of financial security in the UAE by both the CBUAE and the Economic Security Centre of Dubai. Anyone reading the text signs that this is a reflection of the proactive measures the UAE are taking in confronting financial crime and demonstrating its commitment to global financial stability.