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29 January 2020

UAE Financial Intelligence Unit signs MoU with the Kingdom of Bahrain Financial Intelligence Unit and the Financial Information Center for the Republic of Namibia

Abu Dhabi- UAE (29 January 2020): The United Arab Emirates (UAE) Financial Intelligence Unit (FIU) has announced the signing of a Memorandum of Understanding (MoU) with the Financial Investigation Department in the Kingdom of Bahrain and the Financial Information Center in the Republic of Namibia, during the Egmont Group of Financial Intelligence Units meetings in Balaclava, Mauritius, on 29/1/2020.

The MoU was signed by Mr. Ali Faisal Ba'Alawi, Acting Head of Financial Intelligence Unit, with H.E Sheikha May bint Mohammed bin Khalifa Al Khalifa, Director of the Financial Intelligence Unit of the Kingdom of  Bahrain, and with Mrs. Leonie Dunn, Director of the Financial Information Center for the Republic of Namibia

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.”