Day: December 12, 2021

ABU DHABI, Hessa bint Essa Buhumaid, Minister of Community Development, and Ahmed Ali Al Sayegh, Minister of State, the Ministry of Community Development (MoCD) announced establishing a joint mechanism between the Ministry and the UAE Financial Intelligence Unit (FIU) for the coordination of efforts to combat money laundering, financing of terrorist groups and illicit organisations in non-profit organisations (NPOs) sector.

The cooperation also facilitates the exchange of information on non-profit organisations with relation to cases of money laundering, financing of terrorist groups and illicit organisations, and to establish a secure electronic link for the purpose of exchanging information.

Nasser Ismail, Assistant Under-Secretary of Social Welfare at MoCD, stressed the Ministry’s keenness to integrate with the various regulatory authorities that are responsible for overseeing and monitoring UAE-based Non-Benefit Public Associations, as a confirmation on the commitment to international standards to combat money laundering, terrorist financing and proliferation of weapons as issued by the Financial Action Task Force (FATF), to ensure that no violations, errors or unacceptable practices occur in this framework.

He noted that the Ministry’s standards in this regard constitute a legal, legislative and supervisory basis for the authorities responsible for overseeing associations.

He added that the Ministry is very keen to work with all entities within the framework of introducing and raising awareness of the laws, regulations and legislations against money laundering and financing of terrorism, in order to promote safety and convenience of the controlling and regulating procedures for these associations, and motivate them towards more meaningful and positive community-wide development partnership.

Ali Faisal Ba’Alawi, Head of the FIU, stressed the importance of highlighting the UAE’s efforts and its keenness to combat money laundering, financing of terrorism and illicit organisations, in line with FATF standards.

Hs stated, “The Ministry of Community Development and the UAE Financial Intelligence Unit will cooperate with all concerned authorities that perform an active role in our economy and protect donors and their money from the risks of exploitation in financing terrorism and financing of illicit organisations, to enable effective enforcement of countering financial crimes of all kinds and forms.”

Hamed Al Zaabi, Director-General at the Executive Office of Anti-Money Laundering and Counter Terrorism Financing, stated, “As an essential part of our responsibility and deep commitment to effectively combating money laundering and terrorist financing, it is imperative that all our local institutions adhere to the highest standards of transparency. This joint announcement of the UAE Financial Intelligence Unit and the Ministry of Community Development is a new step towards strengthening and effectively implementing our national policies for social development, in support of the continuous development in the UAE.”

Source: Emirates News Agency

ABU DHABI, ADNOC Distribution, the UAE’s largest fuel and convenience retailer, further demonstrates its commitment to its growth strategy by establishing an exclusive partnership with Cars Taxi.

The five-year deal sees ADNOC Distribution as only supplier of fuel and lubricants for Cars Taxi’s 3,000-plus strong fleet in UAE.

The contract will supply all Cars Taxi vehicles with fuel and ADNOC Voyager lubricant, including the premium range Voyager Gold 5W-40 SN, in a deal that aligns to both companies’ commitment to customer safety and satisfaction.

ADNOC Distribution’s fuel and lubricants are made with Murban crude oil – one of Abu Dhabi’s greatest national treasures.

ADNOC Voyager is manufactured using ADNOC’s high quality Group III base oil, ADbase, which is produced by ADNOC Refining using Murban. The high Viscosity Index (VI) of ADbase makes it an ideal lubricant component, ensuring efficiency and fuel economy for high performance engines, whilst meeting ever stringent environmental regulations.

Bader Saeed Al Lamki, CEO, ADNOC Distribution, said, “As the UAE’s leading provider of fuel, we are delighted to be working with Cars Taxi to provide fuel and lubricants to its fleet. As one of the UAE’s largest taxi franchises, our relationship with such a respected business is testament to our ability to deliver quality and reliable products that align to the very ethos of Cars Taxi’s purpose-led philosophy.”

Badr Abdulla Al Ghurair, CEO, Cars Taxi, commented, “For decades, Cars Taxi has adopted a customer-centric approach to service: focused on passenger comfort, safety and experience. As regional pioneers for safe mobility, we place a core focus on delivering customer happiness and peace of mind. With one of the largest taxi fleets in the country, we have a pivotal opportunity to be part of the evolution of the country’s mobility sector.

“By partnering with ADNOC Distribution, a globally renowned company with a reputation for quality excellence, we elevate our service promise, powering our vehicles with the highest standard of fuel from the UAE’s leading distributor.”

ADNOC Distribution recently announced furthering its commitment to international expansion with the signing of two new distributors for ADNOC Voyager lubricant in Angola and the Democratic Republic of the Congo.

The contracts will supply a full range of Voyager lubricants, with confirmed volumes of 1,500,000 liters, and signify the company’s market entry into Africa. ADNOC Voyager is now available in 19 countries across three continents, spearheading the company’s global presence.

ADNOC Distribution has seen significant product growth in international markets including a distribution network spanning Asia, North and East Africa, the Commonwealth of Independent States (CIS) as well as the Middle East region. ADNOC Distribution has doubled its international volumes over the past two years through a dedicated global growth strategy.

Source: Emirates News Agency

DUBAI, DP World UAE, the leading smart trade enabler, has won the 1st Cycle of the Mohammed Bin Rashid Al Maktoum Customer Excellence Award.

Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the awards recognise leading organisations in the categories of business, innovation and customer excellence. Previously, DP World UAE bagged the Mohammed bin Rashid Al Maktoum Business Award and the Mohammed bin Rashid Al Maktoum Business Innovation Award.

The recent win testifies to DP World UAE’s commitment to providing customers with outstanding services via its extensive network, an integrated port management approach and leading-edge technologies. The award was received by Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, and Abdulla Bin Damithan, CEO and Managing Director, DP World UAE and Jafza, at a ceremony held on 9th December 2021 at Expo 2020 Dubai.

Sultan Ahmed bin Sulayem stated, “Throughout its journey as a global provider of end-to-end logistics solutions, DP World has several achievements to its credit. Our vision revolves around ‘Smarter Trade. Better Future’ and is guided by the principles of our nation’s leaders. It is humbling to receive the customer excellence award as customer satisfaction is one of our strategic objectives. I would like to thank Sheikh Mohammed bin Rashid Al Maktoum, who has always inspired us and the jury for recognising our efforts. DP World is determined to find solutions to solve the challenges of our customers and partners. The ultimate focus is to enable efficient movement of cargo globally by lowering costs, increasing speed and transparency, and mitigating the environmental impact.”

Bin Damithan said, “Since our inception, we at DP World UAE, have embraced business practices that align with the strategic objectives of Dubai and the UAE and the vision of Sheikh Mohammed Bin Rashid Al Maktoum. The ‘customer first’ approach has always been the core of our operations. Hence, it is an honour to receive this prestigious award that encourages companies to optimise their customer-oriented practices. To ensure consistent progress in the UAE and the GCC, we work closely with customers and business partners to provide quality services, delivering long-term value. This, we believe, is the key to a sustainable and efficient supply chain. The Mohammed Bin Rashid Al Maktoum Business Award has further motivated us to work towards our goal of creating a competitive environment, while sustaining the world-class business culture in the UAE and the region. We are certain that our contribution will foster trade and enrich the robust and thriving GCC economies.”

As the premier maritime gateway, DP World UAE has been a key economic driver for Dubai and the UAE. The entity contributes 33.4 percent to the emirate’s GDP and 10.7 percent to the UAE’s GDP.

Source: Emirates News Agency

ABU DHABI, Abu Dhabi Fund for Development (ADFD), the economic development arm of the UAE government, signed an agreement to provide a concessionary loan valued at AED 51.4 million (US$14 million) to support development of a new waste-to-energy plant on Ado Island in the Maldives, a project which was selected under ADFD-IRENA Project Facility.

The Agreement was signed by Mohammed Saif Al Suwaidi, Director-General of ADFD, and Ibrahim Ameer Minister of Finance of Maldives.

The signing ceremony was attended by Khalifa Al Qubaisi, Deputy Director-General of ADFD, and drew the participation of senior representatives of the two parties.

The new waste conversion and water treatment facility will generate 1.5 megawatts of clean energy to provide electricity to more than 6,000 homes in Ado and surrounding islands. The plant will reduce total waste volume on the island by 10 percent, contributing to the Maldives waste management strategy as well as climate action targets.

The facility will also contribute to the Maldives economic development strategy by strengthening the energy sector, reducing reliance on fuel imports, and creating new job opportunities through both the construction phase and ongoing operations and maintenance of the facility.

Mohammed Saif Al Suwaidi, Director-General of ADFD, said, “This project is significant as it represents the core purpose of the Fund on many levels. It advances ADFD’s commitment to support UAE’s climate action and renewable energy goals while providing the people of Ado with a sustainable renewable energy source that also addresses local waste management challenges. Financing this project reflects the Fund’s commitment to supporting the renewable energy sector in developing countries, which will positively affect sustainable economic development for these countries.”

“This waste-to-energy project is an important step in supporting the Maldives government’s strategy aimed at increasing the proportion of clean energy production and reducing dependence on electricity production from fossil fuels by a large percentage. It is the second project funded by ADFD in the field of waste-to-energy in Maldives.”

Ibrahim Ameer, Maldives Minister of Finance, said, “This is a strategically important project for the Maldives and the people of Ado Island. Waste-to-energy represents a smart approach to advancing our national waste management objectives and emissions reduction targets while creating high-value jobs and providing our residents with reliable clean energy. We greatly value our partnership with ADFD and the UAE to support the development of this and other high impact infrastructure projects across the country.”

This is the second waste-to-energy project supported by ADFD in the Maldives. With this concessionary loan, which will cover 50 percent of the total project development cost estimated at AED 102.8 (US$28 million).

In 2015, the Fund contributed to the financing of a waste-to-energy plant with a production capacity of 4 megawatts. This project was certified by the Global Innovation Institute (GINI) as an innovative project due to its important contribution to achieving the country’s strategy for solid waste management and driving a 10 percent reduction in waste volume. Based on the positive results achieved by this project on the Maldivian economy and society, the Fund today supports, through this agreement, the replication of the project to serve other regions and islands in the Maldives.

Mohammed Saif Al Suwaidi added, “With the introduction of the UAE Net Zero by 2050 Strategic Initiative, the UAE continues to demonstrate its commitment to be a global leader in climate action, the adoption of clean energy and the reduction of carbon emissions here at home, across the region and worldwide. As a nation, we were among the first to ratify the Paris Agreement and our National Energy Plan 2050 calls for reducing the carbon footprint of power generation by 70 percent. ADFD is committed to advancing that national strategic imperative by supporting projects such as this waste-to-energy plant in the Maldives as well as to help promote the growth of the UAE green economy as part of ADFD’s national economic development and diversification mandate.”

ADFD has enjoyed strong relations with the Government of the Maldives since 1976. The Fund has financed ten development projects in the country valued at approximately AED 751 million, spanning crucial socio-economic sectors such as housing, communications, transport, energy, and education.

Waste-to-energy is one of the many renewable energy sources supported by ADFD which also includes wind, solar, hydro, geothermal and biomass technologies as part of its long-term commitment to combat climate change. In total, ADFD has supported the development of 90 renewable energy projects in 65 countries around the world that have the capacity to generate more than 9,000 megawatts of electricity.

Source: Emirates News Agency