Maldives signs MoU with UAE Central Bank

Tuesday, 21 December 2010 00:01 - - {{hitsCtrl.values.hits}}

On Sunday, the UAE Central Bank signed a Memorandum of Understanding with the Maldives Monetary Authority for cooperation and exchange of information on banking supervision, technical assistance and training, as well as for combating money laundering and terrorist financing.

Governor of the UAE Central Bank Sultan bin Nasser Al Suwaidi and Governor of Maldives Monetary Authority Fazeel Najeeb signed the MoU, which sets up a mechanism for mutual cooperation in banking supervision on financial institutions operating in both countries and exchange of information in combating money laundering and terrorist financing.

The MoU also calls for cooperation with the Maldivian authorities in the field of exchange of information for combating money laundering and terrorist financing. It also stipulated provision of assistance and training for the Maldives Monetary Authority staff.

The Authority will delegate trainees from the Maldives to the UAE to attend international training programs organised by the Central Bank in collaboration with international institutes and other educational institutions at all levels, covering different subjects, such as banking supervision and examination, specialised courses in Islamic banking and anti money laundering and combating terrorist financing.