Central Bank of UAE & Chinese Delegations Meeting in Rome

The National Anti-Money Laundering Committee's Delegation headed by Abdulrahim Mohamed Al Awadi, Executive Director, Head of the Anti-Money Laundering '&' Suspicious Cases Unit (AMLSCU) at the Central Bank of the UAE, on a visit to Rome, Italy has recently held a meeting with the delegation of People's Republic of China attending the 3rd Plenary meeting of FATF XXIII from 18/6/2012 to 22/06/2012 in Rome, Italy. The meeting was held at the margins of the 3rd Plenary meeting of FATF XXIII Plenary in Ergife Palace Hotel, Rome, Italy and attended by members of the NAMLC Delegation representing Dubai Police General Headquarters, General Directorate of State Security in Dubai, State Security in Abu Dhabi and Federal Customs Authority.

According to the statement issued by the Central Bank of the UAE, the meeting was held as per the constructive directives from the Governor of Central Bank of the UAE, Chairman of the National Anti-Money Laundering Committee (NAMLC), to enhance strategic relationship with friendly countries on matters of global concern. The NAMLC delegation recalled the earlier visit to the People's Republic of China for exchanging expertise and experience and the warm welcome extended to them during the visit.

The two delegations discussed the ways and means to enhance and consolidate further the excellent relationship that exists between UAE and People's Republic of China, especially in the area of combating money laundering, terrorist financing and related economic and financial crimes. The meeting focuses on the following issues: Enhancement of cooperation and coordination between the concerned authorities in the UAE and People's Republic of China in the area of combating money laundering, terrorist financing and other economic and financial crimes. Establishing Memoranda of Understanding (MOUs) for the purpose of exchange of financial information and training. Feedback on the level of cooperation between the Financial Intelligence Units of both the countries. Holding joint workshops for all stakeholders with regard to capacity building on AML/CFT including on the revised FATF. Recommendations adopted in February 2012 and on other international instruments and related topics.

Exchange of information on suspected illicit financial flows which may occur between United Arab Emirates and People's Republic of China. The meeting also reflected on the determination of United Arab Emirates and People's Republic of China to enhance and consolidate cooperation among themselves and with the international community on matters related to combating money laundering, terrorist financing and related economic and financial crimes.