Sharjah24: Sharjah Economic Development Department “SEDD” received a delegation from Sharjah Police Headquarters, in order to enhance means of cooperation as well as to exchange expertise between the two parties to provide all capabilities to the business sector, investors and dealers to contribute to achieving sustainable economic development in a way that serves various economic sectors in the emirate.
The meeting addressed several main topics focused on assessing money laundering risks and the procedures for confronting and controlling them. It emphasized the importance of raising awareness and enhancing mutual coordination to tackle common issues in this field.
Coordination and compliance
Participants discussed unifying efforts to identify emerging risks and ensuring compliance with legal and regulatory aspects to combat money laundering and terrorist financing. Hamad Al Midfa, Director of the Legal Affairs Department at SEDD, highlighted the department's focus on strengthening cooperation with various government agencies.
Role of Sharjah Police
Al Midfa praised Sharjah Police for their efforts in reducing money laundering crimes and enhancing community quality of life. He noted that the meeting is part of SEDD’s commitment to fostering cooperation with relevant agencies and building a strong culture of compliance within Sharjah's economic and financial system.
Objectives for effective cooperation
SEDD aims to increase the effectiveness of the system for combating money laundering and terrorism financing through collaboration with strategic partners. This includes implementing best practices and organizing integrated courses and workshops to develop skills related to these systems.
Importance of ongoing meetings
At the meeting's conclusion, both parties stressed the need for regular meetings due to their significant role in accelerating development, enhancing investment, and unifying efforts. Such collaboration contributes to better integration, supports the business community, and promotes economic sustainability and diversity in Sharjah's economic policy.
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