Organises workshop on Cross-Border Cash Disclosure
Under the patronage of HH Sheikh Mohammed Bin Khalifa Al-Nahyan, Chairman of the Department of Finance, Abu Dhabi Department of Finance – General Directorate of Customs organised a workshop on cross-border cash disclosure at Al Ain. The workshop was held, in cooperation with the U.S. Department of Homeland Security, Immigration and Customs Enforcement represented by the American embassy in Abu Dhabi.
This workshop is in line with the guidance of His Highness Sheikh Mohammed Bin Khalifa Al Nahyan, Chairman of the Department of Finance, enhance the performance of Abu Dhabi Customs, keep up with latest developments in the field of customs and increase efforts to achieve the vision and strategy laid out for Abu Dhabi Customs.
Highlighting the importance of holding such a workshop in order to examine cross-border cash disclosure procedures and developments, HE Saeed Ahmed Abdullah Al Muhairi, Director General of Abu Dhabi Customs said that though cash entry and exit from the UAE is not banned, the actual objective of disclosure is to collect data on individuals and investors who move these amounts. Appreciating the partnership with the U.S. Embassy and the accompanying delegation, he said, “We are delighted to cooperate with friendly countries to establish courses which contribute to exchange of ideas, information and best practice. It helps deepen our knowledge of best and most current procedures in place and new ones that we could use in future.â€
“We look forward to more such workshops, courses and lectures as they are useful and important towards achieving our objectives to protect all community sectors and groups in the UAE,” he added.
The U.S. Ambassador to UAE, Richard Olson, praised the outstanding work done by the Abu Dhabi Customs in organizing this workshop. He stressed the American delegation’s eagerness to work with UAE authorities in the area of cash disclosure.
Olson said: “The United States of America, in cooperation with many countries, intergovernmental organizations and the World Customs Organization, in which the United Arab Emirates is an active member, works to promote transparency in the disclosure of cross-border cash movement. Members of the U.S. Department of Homeland Security, Customs and Immigration Enforcement have worked closely with many countries in the world at such workshops, increasing their experience. Their presence in the UAE and their participation in this workshop added to their knowledge. They benefited from the interactions with Emirati customs agents and look forward to work with them in the future.”
Participants highlighted the importance of this initiative and its contribution to international cooperation in the customs field, especially in cross-border cash disclosure.
