The Ministry of Economy has launched a specialised coaching programme aimed toward creating capacities, skilled expertise, and compliance consciousness amongst compliance officers in Designated Non-Financial Businesses and Professions (DNFBPs), underneath its supervision, and personal sector workers to fight cash laundering and counter the financing of terrorism.
This initiative, developed in collaboration with the International Compliance Association (ICA), is designed to create a protected setting for conducting and establishing companies. It seeks to supply a horny local weather for enterprise and funding throughout numerous sectors whereas selling a resilient and forward-looking financial mannequin that ensures stability and aligns with future tendencies.
Her Excellency Safeya Hashem Al Safi, Acting Assistant Undersecretary for the Commercial Control and Governance Sector, said that the programme is a part of the Ministry’s ongoing efforts to reinforce the information and expertise of compliance professionals throughout the DNFBPs, specializing in the dangers and necessities of combating cash laundering and terrorist financing. “It aims to raise the level of compliance culture among the entities under the Ministry’s supervision and to strengthen their role in combating money laundering and terrorist financing crimes. This is to solidify the UAE’s position as a competitive economic hub that applies the highest standards of financial integrity,” H.E. added.
H.E. Safeya Al Safi emphasised that collaboration with the ICA marks a major step in direction of coaching compliance officers, who specialize in implementing the best requirements of compliance inside corporations working within the DNFBPs sectors, overseen by the Ministry of Economy. These sectors embody actual property brokers and brokers, merchants of treasured metals and gem stones, auditors, and company service suppliers, all adhering to worldwide greatest practices. This initiative will play a key position in fostering a steady financial setting and boosting confidence within the nation’s funding local weather.
Under this first-of-its-kind initiative, certification titled ‘ICA/MoEc Certificate in AML/CFT DNFBPs’ might be awarded to compliance officers and personal sector workers who efficiently full the programme. This presents an excellent alternative for DNFBP compliance officers, professionals from different sectors, current graduates, and stakeholders to develop their expertise and study world requirements for combating monetary crimes.
The programme, which spans 4 months and options six core modules, gives an in-depth exploration of key subjects equivalent to cash laundering and terrorist financing, world requirements and compliance obligations, cash laundering and terrorist financing threat evaluation, due diligence and enhanced due diligence, suspicious exercise reporting necessities, focused monetary sanctions tips, governance frameworks, and inner controls. Training might be delivered via an interactive digital platform offering accessible research supplies. Participants may attend digital coaching classes to arrange for the examination, with two makes an attempt to cross.
This program is the result of a partnership between the UAE Ministry of Economy and the ICA, aimed toward supporting the UAE’s efforts to advertise compliance and lift consciousness about combating cash laundering, terrorist financing, and the proliferation of weapons within the DNFBP sectors.
The ICA is a number one world organisation that provides specialised coaching {and professional} programmes in regulatory compliance and monetary crime prevention. Since 2001, ICA has empowered over 180,000 professionals worldwide by enhancing their information, expertise, {and professional} conduct via its complete and numerous vary of programmes.
For extra details about the coaching programme and to register, please go to the Professional Certificate part on Combatting Money Laundering & Terrorism Financing on the Ministry of Economy’s web site through the next hyperlink: https://www.moec.gov.ae/professional-certificate.