UAE authorities are collaborating to fight narcotics-related financial crime and protect community members.
Senior UAE officials have discussed enhanced cooperation to combat narcotics-related financial crimes, as the country continues to strengthen safeguards around its financial system.
The talks focused on reinforcing institutional coordination and ensuring the integrity and stability of the UAE’s financial sector.
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 headquarters in Abu Dhabi.
UAE combats narcotics-related crime
The meeting explored ways to reinforce the national anti-narcotics system, develop institutional cooperation and coordinate joint efforts to combat narcotics-related financial crimes.
These efforts aim to protect the community, safeguard security, ensure transparency and integrity across the financial sector, and maintain the stability of the UAE’s financial system.
Discussions also covered expanding the exchange of relevant information and data, as well as enhancing response efficiency and the effectiveness of national policies, in a manner that supports 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 its efforts to address narcotics-related financial crimes at both national and international levels.
He was also informed about the regulations and legislation in force to combat financial crimes, as well as projects implemented by the CBUAE under its financial infrastructure transformation programme.
These projects include the digitisation of domestic and cross-border payment systems and initiatives aimed at qualifying national personnel to enhance the proactive detection of suspicious financial transactions.
Khaled Mohamed Balama confirmed that the visit represents an opportunity to strengthen the institutional partnership between the CBUAE and the National Anti-Narcotics Authority, supporting national efforts to combat narcotics-related financial crimes, preserve the integrity of the UAE’s financial system, and reinforce its position as a leading global financial hub.
