Sultan Bin Nasser Al-Suwaidi: Encountering money laundering and terrorist
financing
Inaugural speech by His Excellency Sultan Bin Nasser Al-Suwaidi, Governor of the Central Bank of
the United Arab Emirates and Chairman of the National Anti-Money Laundering Committee in the
United Arab Emirates, at the Joint Seminar of the National Anti-Money Laundering Committee and the
Serious Organized Crime Agency (SOCA) - UK, Al-Ain, 2 July 2006.
* * *
Your Excellencies, Honored Guests,
Fellow Members of the National Anti-Money Laundering Committee,
Ladies & Gentlemen,
After Greetings
I would like to give you all a whole hearted welcome at the joint seminar of the National Anti-Money
Laundering Committee in the UAE and Serious Organized Crimes Agency (SOCA) - UK which is held
today in the city of Al-Ain, in order to discuss some topics relating to: "Encountering Financial
Crimes; including Money Laundering and Terrorist Financing".
The meeting of your esteemed committee this morning, prior to the joint seminar, signifies the
important role the committee undertakes in accordance with federal Law No. (4) for the year 2002
regarding Criminalization of Money Laundering, and the role played by fellow members of the
committee in facilitating exchange of information, and ensuring coordination between the bodies they
represent, and generally representing the UAE in issues and relating to combating money laundering
and terrorist financing.
At the outset of the joint seminar, I'm also pleased to welcome Mr. Paul Evans, the Executive Director
of the Serious Organized Crimes Agency (SOCA) and the accompanying delegation, and also Mr.
Robert Dean, the Deputy Head of the Diplomatic Mission of the UK in Abu Dhabi, for their participation
at this meeting, and for their appreciated coordination regarding the issues which would be discussed
today.
Your Excellencies,
Ladies & GentIemen,
We highly appreciate the significant role of the National Anti-Money Laundering Committee in the UAE
in the area of international cooperation and their keen interest to learn of the best practices for
combating money laundering and terrorist financing, and the techniques applied in this respect by
friendly countries. Delegations from your esteemed committee have visited the UK several times, and
received fruitful cooperation from the competent authorities in the UK, including the Serious Organized
Crimes Agency (SOCA).
We highly appreciate, as well, the attitude of the authorities in the UK, particularly the Serious
Organized Crimes Agency (SOCA) for their continuous liaison with the authorities in the UAE, and for
their contribution in preparing and organizing joint conferences, seminars and training programs. One
of the essential outcomes resulting form this liaison is the participation of (SOCA) officials in the third
annual conference of your esteemed committee in Al-Aqah, Fujairah on 27th & 28th December 2005,
which addressed: "The Transfer of Currencies thorough Land, Sea, and Air Borders of the UAE.
(SOCA) officials have also attended the joint seminar between the UAE and the UK regarding:
"Encountering Money Laundering" which was held on 16th & 18th March 2006 at the Central Bank in
Abu Dhabi, during which a memorandum of understanding has been signed between the Anti-Money
Laundering & Suspicious Cases Unit at the Central Bank and the Serious Organized Crimes Agency
(SOCA).
Your Excellencies,
Ladies & Gentlemen,
The UAE attaches great importance to the issue of international and regional cooperation. One of our
priorities is to familiarize officials at the competent authorities in the UAE with the experiences and
techniques applied by friendly countries in the area of combating money laundering and terrorist
financing. My fellow members of the National Anti-Money Laundering Committee are doing a
remarkable and important job in this respect.
Ladies & Gentlemen,
During today's joint seminar, which is attended by the Executive Director of the Serious Organized
Crimes Agency (SOCA) and the accompanying delegation, members of the committee shall present
working papers focusing on the regulations and measures for combating money laundering, terrorist
financing and financial crimes in general, covering all sectors of financial, economic and security
activities in the UAE. These working papers will underscore UAE efforts, highlight the legal
frameworks and practical applications by the competent authorities in the UAE, and illustrate the
achievements made so far by the UAE in this respect.
Officials from the Serious Organized Crimes Agency (SOCA) shall also present a working paper on
the new measures applied in the UK for combating money laundering and terrorist financing.
Ladies & Gentlemen,
The topics which would be addressed during today's seminar reflect the determination of both the UAE
and the UK to enhance and consolidate cooperation & coordination between the two countries and
with the international community, contribute to the international efforts aimed at combating money
laundering and terrorist financing, and assume an effective role in this domain.
In conclusion, I would like to wish success to all participants.
Thank you for your attention.