• Safia Al-Safi: Developing national competencies in governance and financial compliance practices is a cornerstone for enhancing the competitiveness of the national economy and establishing a business environment that adopts the highest standards of transparency.

• Areas of cooperation include the exchange of studies and research, the organization of scientific events, the development of professional certification programs, and technical and advisory support, all of which enhance the quality of institutional performance.

• The memorandum establishes an integrated framework for training personnel through advanced programs in combating money laundering and terrorist financing, and enhancing their capabilities to assess and monitor risks in accordance with the standards of the Financial Action Task Force (FATF).

The Ministry of Economy and Tourism signed a memorandum of understanding with the Emirates Institute of Finance with the aim of enhancing institutional cooperation in the areas of financial training and qualification, building national capacities, exchanging experiences and knowledge in the areas of financial control and management, combating money laundering and financial crimes, and supporting corporate governance and compliance initiatives, in order to contribute to raising the efficiency of human resources and developing institutional performance in accordance with best global practices.

The memorandum was signed on the sidelines of the graduation ceremony for the Emirates Institute of Finance’s “Ithraa” program, which was held at the Abu Dhabi National Exhibition Centre (ADNEC). The memorandum was signed on behalf of the Ministry of Economy and Tourism by Her Excellency Safia Hashim Al Safi, Assistant Undersecretary for the Commercial Control and Governance Sector at the Ministry, while it was signed on behalf of the Emirates Institute of Finance by Marwan Al Muhairi, CEO.

Her Excellency Safia Al Safi affirmed that the memorandum reflects the Ministry’s commitment to strengthening national partnerships aimed at developing human capital and raising the readiness of national competencies to keep pace with the rapid changes in the business environment and the financial sector, and to confront money laundering and combat the financing of terrorism, in support of the state’s objectives in building a competitive economy based on knowledge and innovation.

Her Excellency said: “Qualified national talents are the cornerstone for sustaining economic growth, enhancing the UAE’s global competitiveness, and building a transparent, reliable, and secure business environment. From this standpoint, we are keen to expand cooperation with leading national institutions to develop specialized skills and establish a culture of continuous learning in the areas of financial governance, in line with the requirements of the new economy and to enhance the readiness of national cadres to lead the development process during the next stage.”

Her Excellency added: “This memorandum establishes an integrated framework for designing and implementing specialized training programs to qualify and train compliance personnel in designated non-financial business sectors and professions, including advanced programs in combating money laundering, terrorist financing, and the proliferation of weapons, and enhancing their capabilities in risk assessment, applying due diligence measures, and monitoring suspicious transactions in accordance with the Financial Action Task Force (FATF) standards.

Her Excellency noted that the Ministry continues to develop the oversight and governance system in accordance with a proactive approach that keeps pace with global economic changes, and consolidates the UAE’s position as a stable and leading business environment that adopts the highest standards of transparency, compliance and sustainability.

For his part, Marwan Al Muhairi, CEO of the Emirates Institute of Finance, said: “I am delighted to welcome you today to this important occasion, during which we are witnessing the signing of the Memorandum of Understanding between the Emirates Institute of Finance and the Ministry of Economy and Tourism. This represents a strategic step towards consolidating joint cooperation in building and developing national competencies in the financial and regulatory fields. This partnership reflects our shared commitment to empowering national talent through specialized training programs according to the best international standards, which contributes to raising institutional capabilities and consolidating governance and financial compliance practices.”

This memorandum also focuses on developing specialized skills in the areas of anti-money laundering and counter-terrorism financing, thereby enhancing the readiness of national talent in risk assessment and monitoring in accordance with Financial Action Task Force (FATF) standards. Through this partnership, we look forward to expanding cooperation in training and the exchange of knowledge and expertise, supporting the UAE's drive towards a more competitive and sustainable economy.

Specifically, under the memorandum, the two parties cooperate in developing and implementing specialized training programs in the financial and economic fields aimed at raising the efficiency of national cadres and qualifying them according to the latest professional standards and international practices, in addition to implementing joint initiatives to enhance institutional capabilities and develop modern frameworks and methodologies in financial management and governance.

Areas of cooperation also include the exchange of studies, research and technical reports, the organization of joint workshops, seminars and conferences, the design of continuing professional development programs and the awarding of accredited professional certificates, as well as the preparation of specialized research on financial and economic issues of common interest and the provision of technical and advisory support that contributes to supporting decision-making and enhancing the quality of institutional performance.

This memorandum comes within the framework of the Ministry of Economy and Tourism’s efforts to strengthen strategic partnerships with specialized national institutions, in order to support the building of an integrated system for developing national competencies and consolidating the culture of governance and compliance, and to contribute to achieving the objectives of the “We Are the UAE 2031” vision in building a more competitive, sustainable and leading economy at the regional and global levels.

For more information, please contact:

Orient Planet Group

Email: media@orientplanet.com

Website: www.orientplanet.com

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