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1.3. Legal Basis

Effective from 31/10/2022

This Guidance builds upon the provisions of the following laws and regulations:

 (i)Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering (“AML”) and Combatting the Financing of Terrorism (“CFT”) and Financing Illegal Organisations (as amended by Federal Decree Law No. (26) of 2021) (“AML-CFT Law”); and
 (ii)Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation for Decree-Law No. (20) of 2018 on AML and CFT and Financing of Illegal Organisations (“AML-CFT Decision”).

This Guidance also builds on global standards and best practices issued by the Financial Action Task Force (“FATF”)2 and the Wolfsberg Group, as well as on industry standards and best practices.

2 Including FATF Guidance on Digital ID, available at: fatf-gafi.org/publications/fatfrecommendations/documents/digital-identity-guidance.html.