Dubai’s Samana Developers Appoints Dow Jones Affiliated Complyfin to Implement AML/CFT Compliance Across Operations

Dubai’s Samana Developers Appoints Dow Jones Affiliated Complyfin to Implement AML/CFT Compliance Across Operations

Dubai, May 2024 – Samana Developers, a prominent real estate developer in Dubai, has recently partnered with Complyfin, an affiliate of Dow Jones, to enhance its compliance framework. This strategic move aims to implement Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) measures across Samana’s operations, ensuring adherence to global standards.

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Strengthening Compliance Measures

Samana Developers’ decision to appoint Complyfin comes at a time when the real estate sector is under increasing scrutiny to adopt robust compliance protocols. By leveraging Complyfin’s expertise, Samana Developers seeks to fortify its operational integrity and protect its stakeholders from financial crimes.

Why This Partnership Matters

Complyfin, known for its association with Dow Jones, brings a wealth of experience and technological prowess in compliance solutions. The collaboration is expected to:

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  1. Enhance Transparency: Implementing AML/CFT measures will boost transparency in financial transactions and operations within Samana Developers.
  2. Mitigate Risks: By adopting rigorous compliance standards, Samana can better identify and mitigate risks associated with money laundering and terrorism financing.
  3. Build Trust: Strengthened compliance frameworks are likely to build greater trust among investors, customers, and regulatory bodies.

Impact on the Real Estate Market

This partnership is anticipated to set a new benchmark in Dubai’s real estate market, encouraging other developers to follow suit. As compliance becomes a cornerstone of real estate operations, the market is expected to see an increase in investor confidence and overall market stability.

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CEO’s Perspective

Imran Farooq, CEO of Samana Developers, emphasized the importance of this strategic partnership, stating, “Our collaboration with Complyfin aligns with our commitment to uphold the highest standards of integrity and transparency. As we continue to expand our portfolio, it is imperative that we adopt comprehensive compliance measures to safeguard our operations and enhance our stakeholders’ trust.”

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Looking Ahead

With this collaboration, Samana Developers is poised to lead the way in compliance within the real estate sector, ensuring its operations are secure, transparent, and in line with international standards. The move is expected to not only fortify Samana’s market position but also contribute positively to the overall health of Dubai’s real estate industry.

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