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ADGM: Executive Office of the AML/CFT signs MoU with Abu Dhabi Global Market Academy

The Abu Dhabi Global Market ('ADGM') announced, on 13 September 2021, that the Executive Office of the Anti-Money Laundering and Counter-Terrorism Financing ('AML/CFT') had signed a Memorandum of Understanding ('MoU') with the Abu Dhabi Global Market Academy LLC, to establish a dedicated Financial Risk and Compliance Centre of Excellence. In particular, the announcement notes that the Centre of Excellence shall serve to enhance the Financial Action Task Force ('FATF') level of compliance effectiveness of the UAE's AML/CFT system.

Notably, the MoU also includes the provision of in-depth training to serve the national employability agenda by developing, training, and employing UAE nationals in the financial risk and compliance sector.

The ADGM Academy's Managing Director, Hamad Al Mazrouei noted that, "In working with the Executive Office of AML/CFT, we have the ability to bridge the gap between knowledge and execution. Through our jointly established Centre of Excellence, we will support a new generation of analysts […]".

You can read the press release here.