Abu Dhabi: The Financial Intelligence Unit of the United Arab Emirates (UAE FIU) has signed two separate Memorandum of Understanding (MoUs) with the Bangladesh Financial Intelligence Unit (BFIU) and the Financial Reporting Center (FRC) of the Federal Republic of Somalia to exchange financial information and expertise, as well as collaborate with relevant authorities and stakeholders to combat financial crimes.

The MoUs were signed by Ali Faisal Ba’Alawi, Head of the UAE FIU, with Amina Ali, Director of the FRC of Somalia, and Abu Hena Mohammad Razee Hassan, Head of the BFIU, representing their respective jurisdictions.

Commenting on the agreement, Mr. Ali Faisal, Head of the Financial Intelligence Unit for the UAE, said:

"Our undertaking of these agreements with the FRC of Somalia and the Bangladesh FIU further reinstate our efforts to facilitate a robust exchange of knowledge and expertise in the areas of anti-money laundering and combating financing of terrorism, alongside leading international intelligence units,” said Ba’Alawi.