The Minister of Economy and Tourism discusses with the Governor of the Palestinian Monetary Authority to enhance cooperation

Abu Dhabi, July 25/ WAM/ His Excellency Abdullah bin Touq Al -Marri, Minister of Economy and Tourism, held a bilateral meeting with His Excellency Yahya Shanar, Governor of the Palestinian Monetary Authority and Chairman of the National Committee to combat money laundering with the aim of discussing the prospects for enhancing joint cooperation in economic and development policies, especially in areas related to the financial crime facing systems.

The meeting – which was held at the Ministry’s headquarters – was attended by Safia Al -Safi, the assistant undersecretary for the Ministry of Commerce and Commercial Governance sector and witnessed the discussion of the latest developments and global developments in the field of combating financial crimes and the emerging risks imposed by money laundering practices on the stability of economic systems and the safety of the financial sectors.

His Excellency Abdullah bin Touq briefed the Palestinian side on the experience of the leading UAE in the continuous development and modernization of the legislative and organizational system to counter money laundering, and its vital role in achieving the highest levels of compliance with international legislation and standards in the state markets.

He stressed that strengthening the Emirati -Palestinian cooperation in various economic development fields represents a fixed trend within the vision and directives of the rational leadership, noting that the UAE achieved a distinguished and world leading experience in developing policies to confront financial crimes, and its efforts resulted in strengthening its global position as a safe, stable and competitive economy.

He pointed out that the state’s name is raised from the list of controls reinforced by the “FAF” financial work group and from the European Parliament list for the third high -risk countries in the field of money laundering and terrorist financing, “stressing the Ministry of Economy welcoming the participation of its experiences and experiences to support the efforts of the brothers in the Palestinian Authority in this vital sector.

The meeting witnessed a review of the Ministry’s efforts in developing the national economic registry project “Nemu”, which contributed to providing the largest digital database and unified and reliable information for all commercial licenses of facilities and commercial companies in the country, as well as unifying the procedures and requirements of the real beneficiary to keep pace with international standards, awareness and control of business sectors and non -financial professions in the country that include brokers, real estate agents, and metal trading The precious, independent accountants, auditors, and corporate service providers.

The two sides affirmed their keenness to enhance cooperation and coordinate joint efforts to exchange the latest experiences regarding the organizational and regulatory practices and procedures approved at the international level in the field of facing money laundering, as well as training programs used in qualifying human cadres concerned in this regard, in a manner that ensures the readiness of work teams to deal with the changing patterns of financial crimes in a proactive way, and in a way that contributes to protecting financial integrity and enhancing confidence in the economic systems of the two countries.

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