on Mon, 12/27/2010 - 14:40

http://topnews.ae/content/25533-dubai-police-and-central-bank-come-together-stop-frauds

The Central Bank of the UAE has signed a MoU with the Dubai Police General Headquarters, to stop money laundering. As per the agreement both are going to share critical information with each other in cases which are suspected to be that of frauds related to money and also terrorist financing.

As per the terms of the understanding, a mechanism is going to be put into place as per which information is going to be shared between Anti-Money Laundering and Suspicious Cases Unit (AMLSCU) at the Central Bank of UAE with the Dubai Police General Headquarters.

It is also believed that the agreement will help in strengthening co-operation related to staff training and technical assistance.

Moreover, it is going to develop close communication between the two parties and will help in building efficiencies.

The MoU was signed by the Commander-in-Chief of the Dubai Police, Lieutenant General Dhahi Khalfan Tamim and Central Bank Governor, Sultan Bin Nasser Al Suwaidi.

Talking about the same, Lt. Gen Dhahi Khalfan said that with the agreement in place, it will become easier in collecting evidences and investigations.