UAE, Bangladesh and Somalia cooperate to counter money laundering
The UAE, Somalia and Bangladesh have signed memorandums of understanding to counter money laundering.
The Financial Information Unit of the United Arab Emirates has signed two separate memorandums of understanding with the Financial Information Unit of Bangladesh and the Financial Reporting Center of the Federal Republic of Somalia within the framework of international cooperation to exchange financial information and expertise and to coordinate with stakeholders to combat financial crimes.
The conclusion of these agreements is in line with the State’s objectives of countering money-laundering and combatting the financing of terrorism.
The memorandums were signed separately by Ali Fayssal Baalwi, head of the UAE’s Financial Information Unit, Amina Ali, director of the Financial Reporting Center in the Federal Republic of Somalia, and Abu Hana Mohammed Razi Hassan, head of the Bangladesh Financial Information Unit.
This co-operation will help accelerate our efforts to facilitate the exchange of knowledge and expertise in the areas of countering money-laundering and combatting the financing of terrorism, in cooperation with leading international intelligence units, said Ali Faisal al-Alawi.
He stressed that these memorandums of understanding will allow greater cooperation between our judicial authorities regarding best practices in the fight against financial crimes, which will contribute to enhancing stability and security in the economic landscape of the United Arab Emirates, in addition to strengthening relations between the UAE, Bangladesh and Somalia.
