This chapter provides standards that every Licensed Person must follow at all times in order to protect the Licensed Person from abuse by money launderers and/or terrorist financiers. The Licensed Person must ensure that its Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) Program is in line with applicable Laws and Regulations of the UAE regarding Money Laundering and the Financing of Terrorism (“AML/CFT Laws and Regulations”), in particular Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations (“the AML-CFT Law”) and its amendment (Federal Decree Law No. (26) of 2021 amending certain provisions of Federal Decree Law No. 20 for 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations) and the Cabinet Decision No. (10) of 2019 concerning the Implementing Regulation of Federal Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations (“the AML-CFT Decision”)¹. Furthermore, please refer to the Central Bank’s Guidance for Licensed Exchange Houses².

¹Available at https://www.centralbank.ae/en/cbuae-amlcft
² Idem.