|  | UAE to continue to peg its currency to DollarMay 31, 2009 - 09:14 - Abu Dhabi, May 31st, 2009 (WAM): UAE will continue to peg its currency to Dollar as it remains to be the world's reserve currency as well as the currency of global trade and investment, said the Governor of the UAE Central Bank HE Sultan Bin Nasser Al Suwaidi.
Al Suwaidi was speaking after attending a ceremony to sign two memoranda of understanding with Canada and Netherlands for cooperation for combating money laundering and suspicious cases.
The first MoU was signed by Anti-Money Laundering and Suspicious Cases Unit (AMLSCU) of the Central bank and FINTRAC - Financial Transactions Reports Analysis Centre of Canada.
AMLSCU and the Financial Information Unit of Netherlands signed the second MoU.
After the signing of the MoU at the UAE Central Bank headquarters in Abu Dhabi, the Governor noted that money laundering is a global problem that is not confined to the Gulf countries.
He stressed the need for evolving effective and suitable financial methods to counter this phenomenon.
Speaking on the current issues, Al Suwaidi said that the gap between credits and deposits will heal over time as the elimination of this gap is not connected to any measures to be planned by the central bank.
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