Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of the Judicial Council, witnessed the signing of a memorandum of understanding between the Judicial Department and the Central Bank of the United Arab Emirates at his office at the University of Sharjah.
The memorandum was signed by Judge Dr. Mohammed Obaid Al Kaabi, Chairman of the Judicial Department, and Fatima Abdullah Al Jabri, Assistant Governor of the Central Bank of the UAE for Financial Crime Compliance, Market Conduct and Consumer Protection.
The MoU, whose signing was attended by His Excellency Khaled Mohammed Balama, Governor of the Central Bank of the UAE, aims to strengthen institutional cooperation between the two parties and organise joint work in areas of mutual interest. It is intended to contribute to the development of more efficient and expeditious mechanisms for the enforcement of judicial rulings and decisions related to the Central Bank's jurisdiction, and to leverage successful experiences in electronic linkage and the automation and acceleration of the enforcement of judicial rulings using artificial intelligence technologies, so as to enhance efficiency and accuracy in procedures between judicial authorities and financial institutions, serving the public interest and raising the quality of services provided.
The memorandum includes the development of a joint action plan to monitor challenges and obstacles and propose appropriate solutions, alongside the advancement of electronic linkage mechanisms, the deployment of artificial intelligence tools, and the streamlining of administrative and technical procedures. This is aimed at enhancing the speed and effectiveness of enforcing rulings, orders and decisions issued by the courts and public prosecution offices of the Emirate of Sharjah, while aligning procedures with approved judicial systems and developing effective communication channels to address related technical matters.