CBUAE, National Anti-Narcotics Authority enhance cooperation

Sheikh Zayed Bin Hamad Al Nahyan, Chairman of the National Anti-Narcotics Authority, held a meeting with Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates (CBUAE), at the Central Bank headquarter in Abu Dhabi.

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The meeting explored ways to reinforce the national anti-narcotics system, develop institutional cooperation and coordinate joint efforts to combat narcotics related financial crimes.

This aims to help protect community, safeguard its security, ensure transparency and integrity of the financial sector, and maintain the stability of the UAE's financial system.

The two parties also discussed expanding the exchange of relevant information and data, and enhancing the efficiency of response and the effectiveness of national policies, in a way that reinforces a safe and reliable financial environment in the UAE.

The meeting was attended by the Assistant Governors of the Central Bank along with several officials from both sides.

During the visit, Sheikh Zayed Bin Hamad Al Nahyan was briefed on the Central Bank's mandates and efforts in addressing narcotics related financial crimes at the national and international levels.

He was also informed about the regulations and legislation in force on combating financial crimes, and the projects implemented by the CBUAE within its financial infrastructure transformation program. Such projects include the digitisation of domestic and cross-border payment systems, and initiatives to qualify national personnel to enhance proactive detection of suspicious financial transactions.