UAE: Dubai Insurance and RETL collaborate on regulatory platform

Source: Middle East Insurance Review | Dec 2021

Dubai Insurance (DIN) and RETL, group entity of AJMS Global, announced the integration of ‘DIGI-Comply’, a proprietary sanction screening and risk assessment tool, with their core insurance software.

The solution also helps financial institutions to reduce ‘false positives’ and implement a robust AML/CFT risk assessment process thereby ensuring compliance with in-country regulations.

DIN CEO Abdellatif Abuqurah said the system was cost-effective, user friendly and therefore quickly accepted by the staff. He added that implementing the additional software has not increased the TAT or impacted the DIN team’s productivity. Given the strength of AJMS Group in AML/CFT domain, the product would serve DIN well over the period, he said.

Commenting on the successful implementation, AJMS Group founder and group CEO Abhishek Jajoo said the core objective of RETL was to launch a user-friendly fully integrated solution which complies with AML compliance requirements in the UAE. It also supports the nation’s vision on safeguarding financial system. M

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