“The Economy” launches a training program for specified non-financial businesses and professions

Yesterday, the Ministry of Economy announced the launch of a specialized training program, with the aim of developing capabilities, expertise and professional skills, and raising awareness of compliance requirements in the field of combating money laundering and combating the financing of terrorism among compliance officials in the business sectors and specific non-financial professions subject to the control and supervision of the Ministry of Economy and workers in the private sector. This is in cooperation with the International Compliance Association (ICA), which contributes to creating a safe environment for practicing and establishing business, providing an attractive climate for business and investment in various sectors, and building a safe and stable economic model based on flexibility and future trends.

The Ministry’s Acting Assistant Undersecretary for Commercial Control and Governance Sector, Safiya Hashem Al-Safi, said that the program comes within the framework of the Ministry of Economy’s ongoing efforts to enhance the knowledge skills of those concerned with compliance in the business sectors and specified non-financial professions, and the risks and requirements of confronting money laundering and combating the financing of terrorism, and raising the level of the culture of compliance. The establishments subject to the Ministry’s supervision, and enhancing its role in combating money laundering and terrorist financing crimes, consolidate the UAE’s position as a competitive economic center that applies the highest standards of financial integrity.

She added that cooperation with the International Compliance Association represents an important step towards preparing compliance officials specialized in applying the highest standards of compliance in companies operating in the business sectors and specific non-financial professions supervised by the Ministry, which include four sectors: real estate agents and brokers, precious metals and stones dealers. Al Karima, auditors, and corporate service providers, in accordance with international best practices, which contributes to building a stable economic environment and increases confidence in the country’s investment climate.

The program, which is the first of its kind, grants a certificate from the International Compliance Association and the Ministry of Economy in combating money laundering and combating the financing of terrorism to every compliance officer or employee who successfully passes the stages of the program, as it is an ideal opportunity to develop and build the skills of compliance officers concerned with specific non-financial businesses and professions, workers and professionals. From other sectors, new graduates and stakeholders.

The program extends for four months and includes six basic study units. It also represents one of the fruits of the cooperation agreement signed by the Ministry of Economy with the International Compliance Association, as part of the state’s efforts to enhance the culture of compliance and spread awareness in combating money laundering and terrorist financing crimes in the business sectors and non-financial professions. specified.