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Dubai- United Arab Emirates: he Overseas Alternate and Remittance Group (FERG) introduced just lately that it signed a Memorandum of Understanding (MoU) with Kuwait Union Alternate Firm to additional strengthen collaboration between each entities.
The MoU was signed by Mohamed A. Al Ansari, Chairman of FERG, and Abdulla Najeeb Al Mulla, Chairman of the Board of Administrators of Kuwait Union Alternate Firm. The signing ceremony was attended by Adeeb Ahamed Vice Chairman of FERG alongside plenty of senior officers from each events.
Below the MoU, each organisations will leverage one another’s experiences to understand frequent milestones and share finest practices within the overseas change and cash remittance business to assist advance inclusive and sustainable improvement. This consists of holding important discussions on the present market circumstances, exploring alternatives and addressing challenges within the sector. It’s going to even be devised as a platform to consolidate and simplify operational methods, evaluate analytics and market traits, share international compliance laws and change finest practices in tackling problems with fraud, danger administration and anti-money laundering.
Mohamed A. Al Ansari commented: “We’re delighted to signal the MoU with Kuwait Union Alternate Firm and are assured that this partnership will positively impression the overseas change and cash remittance sector of each international locations. We stay up for working collectively to change finest practices and focus on issues of mutual curiosity.”
Moreover, and as a part of this partnership, joint workshops might be organised on matters similar to Anti-Cash Laundering and Combating Terrorism Finance (Primary & Superior), Counterfeit Forex & Prevention of Fraud, Threat Administration, and Ethics and Integrity.
The Overseas Alternate and Remittance Group (FERG) is a non-profit organisation that was fashioned below an initiative by the Central Financial institution of the UAE. The group includes of corporations which might be engaged within the overseas change and remittance sector.
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