SEDD, Sharjah Police discuss Strengthening Cooperation

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 that focused on the practices applied on ways to assess money laundering risks and the procedures followed to confront and control them. The importance of raising awareness and enhancing mutual coordination between the two parties to address issues of common interest in this field was also discussed, as well as unifying efforts to identify emerging related risks and ensure compliance with the legal and regulatory aspects to combat money laundering and terrorist financing.

In this regard, Hamad Al Midfa, Director of Legal Affairs Department at SEDD, stressed that the Department focuses on strengthening cooperation and coordination with various government agencies and institutions in the country and develop their operations, praising the efforts of Sharjah Police, which enhance the concerted efforts in confronting and reducing money laundering crimes, and achieving quality of life for the community.

In addition, Al Midfa stated that SEDD aims, through its cooperation with its strategic partners, to increase the effectiveness of the system for combating money laundering and terrorism financing in the country, in a way that contributes to implementing the best practices and procedures followed in this regard. This can be attained by preparing integrated courses and workshops to develop cadres regarding these systems, to ensure raising the level of compliance and commitment to international requirements and maintaining UAE’s national economy position regionally and globally.

By the end of the meeting, both parties stressed on the importance of holding such meetings on an ongoing basis, given their significant role in accelerating development processes, enhancing investment movement, unifying efforts and mutual work between the two parties. Such thing will contribute at achieving better integration in work, supporting the business community in the emirate, accomplishing economic sustainability and enhancing economic diversity, which represents a fixed characteristic in the economic policy of Sharjah.