Executive Office of Anti-Money Laundering and Counter Terrorism Financing and Rabdan Academy Sign MoU on AML/CFT Training Programs
- The initiative will develop specialised academic and professional programs on anti-money laundering, countering financing of terrorism and proliferation
- MoU to support national efforts to enhance capacity of individuals and organisations to combat financial crime
Abu Dhabi – 06 October 2022: The Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF) and Rabdan Academy have signed a Memorandum of Understanding to jointly develop activities that will raise awareness of financial crime and increase skilled resources in the UAE. Central to the partnership will be the design and delivery of specialised academic and professional programs on anti-money laundering, countering the financing of terrorism and proliferation.
H.E. Hamid AlZaabi, Director General of the EO AML/CTF, remarked at the signing ceremony that the MoU with Rabdan Academy is part of a comprehensive set of measures taken by the UAE to create a robust AML/CFT framework that is sustainable and designed for long-term impact.
He explained: “The UAE Government has made the fight against financial crime a high-level strategic priority, and our National Strategy requires an all-of-government approach and effective public-private sector coordination. The MoU with Rabdan Academy will elevate professionally trained resources dedicated to the fight against financial crime and enhance anti-financial crime awareness among Emirati authorities through training and targeted outreach.”
H.E. James Morse, President of Rabdan Academy, said: “This strategic partnership will strengthen national efforts to build capacity in combating financial crime, including money laundering and terrorism financing. These specialised programs will enrich participants’ analytical skills and enhance their ability to assess and manage financial crime risks. Moreover, this MoU will lead to joint research that aligns with Rabdan Academy’s commitment to providing world-class education, training, research, and advice to individuals and organisations.”
The two parties to the MoU have agreed to create a professional development program for individuals working within the UAE public and private financial sectors in accordance with standards outlined by the Central Bank of the UAE, Abu Dhabi Global Market (ADGM), and relevant international bodies.
Under the agreement, EO AML/CTF will advise on the design and development of a technical professional development pathway and facilitate consultative meetings to analyse the UAE’s AML/CFT training needs.
For its part, Rabdan Academy will consult on the development and refinement of the AML/CFT training program, conduct a pilot training course for select entities, and engage local AML/CFT stakeholders.
The professional development pathway will lead to the creation of a standardised vocational curriculum to bridge the work of intelligence agencies, enforcement agencies, prosecutors, regulatory bodies, and compliance professionals. The professional programs will include vocational courses, professional certificates, and student certificates.
The first phase of the project is scheduled to be launched over the coming four to six months.