Sultan bin Ahmed Al Qasimi witnesses the signing of a memorandum of understanding between the Judicial Department and the Central Bank

Sharjah, June 20 / WAM / His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, Chairman of the Judicial Council, witnessed the signing of a memorandum of understanding between the Judicial Department and the Central Bank of the United Arab Emirates, in His Highness’s office at the University of Sharjah.

The memorandum of understanding was signed by Judge Dr. Muhammad Obaid Al Kaabi, Head of the Judicial Department, and Fatima Abdullah Al Jabri, Assistant Governor of the Central Bank of the United Arab Emirates for the sector of combating financial crimes, market behavior and consumer protection.

The memorandum, whose signing was attended by His Excellency Khaled Mohammed Al-Amaa, Governor of the Central Bank of the United Arab Emirates, aims to enhance institutional cooperation between the two parties, and organize aspects of joint work in areas of mutual interest, thus contributing to the development of more efficient and rapid mechanisms for implementing judicial rulings and decisions related to the bank’s competencies, and benefiting from successful experiences in the field of electronic connectivity and automating and accelerating the implementation of judicial rulings issued using artificial intelligence techniques, to enhance efficiency and accuracy in procedures between judicial authorities and financial institutions, in a way that serves the public interest and improves the quality of services provided.

The memorandum includes developing a joint action plan to monitor challenges and obstacles and propose appropriate solutions to them, in addition to developing advanced mechanisms for electronic connectivity, employing artificial intelligence tools, and shortening administrative and technical procedures, in a way that enhances the speed and effectiveness of the implementation of judgements, orders, and decisions issued by the courts and prosecutions of the Emirate of Sharjah, while harmonizing procedures with the approved judicial systems, and developing effective communication channels to address the relevant technical aspects.

The memorandum also stipulates enhancing the exchange of experiences, knowledge, studies and professional visits between the two sides, and benefiting from the bank’s expertise in the fields of financial crimes, combating money laundering, and monetary and banking developments through training programs and specialized workshops for judges and members of the public prosecution.

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