Anti Money Laundering and Counter-Terrorism Financing Committee signs MoU with its UAE counterpart

Manama, Nov. 18 (BNA): The Anti-Money Laundering and Counter-Terrorism Financing Committee signed a Memorandum of Understanding (MoU) with the National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee of the United Arab Emirates (NAMLCFTC).

The MoU was signed by Shaikha May bint Mohammed Al Khalifa, Chief Executive of the Financial Intelligence National Centre and Chair of the Committee, and Hamid Al Zaabi, Secretary General and Vice-Chair of the NAMLCFTC.

The MoU aims to strengthen cooperation and enhance the exchange of expertise and knowledge in anti-money laundering, counter-terrorism financing, and combating the financing of the proliferation of weapons of mass destruction. It also outlines the general framework for cooperation between the two sides in exchanging best practices, developing operational capacities, and organising joint training programmes and workshops.

It also contributes to enhancing the efficiency of the AML/CFT system and supporting compliance with international standards.