Central Bank Board of Directors' Decision No. 59/4/2019 Regarding Procedures for Anti-Money Laundering and Combating the Financing of Terrorism and Illicit Organizations

§Preamble

Procedures for An and Combating the and Illicit |

Central Bank Board of Directors’ Decision No. 59/4/2019 regarding Procedures for Anti-Money Laundering and Combating the Financing of Terrorism and Illicit

Chairman of the Board,

Having perused the provisions of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organization of Financial Institutions and Activities;

Decree Federal Law No. (20) of 2018 on Anti- Money Laundering and Combating the Financing of Terrorism and IIlegal

Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation of Decree Federal Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations; and

Circular No. 24/2000 - Regulation concerning Procedures for Anti-Money Laundering and its The Central Bank's Board of Directors has issued the following resolution:

§Article 1

UAE: United Arab Emirates.

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Decree Decree Federal Law No. (20) of 4iud ( Federal 2018 on Anti-Money Laundering ut Law: and Combating the Financing of 7 Executive Cabinet Decision No. (10) of dint Regulation: 2019 Concerning the Implementing Regulation of = Decree Federal Law No. (20) of 4°20 2018 on Anti-Money Laundering dl, and Combating the Financing of } Terrorism and Illegal The Central Bank of the UAE. bowel Financial Anyone, licensed or registered by 44.254 Institution: the Central Bank, who conducts (2) one or several of the financial [ ° | activities or operations, defined in 4444 s

§Article 2 — of the Executive at%

Regulation, of or on behalf of a Article (2):

Financial Institution and its concemed persons Sat must comply with the requirements mentioned in 3 wr the Decree Federal Law, the Executive oe Regulation, instructions, guidelines and notices Va jane issued by the Central Bank relating to Qsilit, implementation of the Decree Federal Law and the Executive Regulation.

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§Article 3

The Central Bank shall supervise and examine, < periodically or unexpectedly, without prior notice to the Financial Institution, to verify the Financial Institution’s compliance with the ¢ Decree Federal Law, the Executive Regulation, relevant instructions, guidelines and notices a issued by the Central Bank and shall identify any violations resulting from the examination. The Central Bank shal!’ request all information and documents it deems necessary for the 4a purpose of supervision and verification from the Financial Institution or its employees.

§Article 4

Without prejudice to any of the sanctions or 3: measures contained in any other legislation, the a Central Bank may, upon the violation by any, Financial Institution of any of the provisions i referred to in Article (2) of this Decision, impose ; any of the administrative sanctions specified in the Decree Federal Law.

§Article 5

The violator may appeal against the decision on ol the violation, in accordance with the procedures ci prescribed by the Central Bank in this regard.

§Article 6

The Central Bank may publish its administrative 4 sanctions in the various means of publication.

§Article 7

Circular No. 24/2000 - Regulation concerning 2000, Procedures for Anti-Money Laundering and its deals amendments shall be canceled. .

§Article 8

This Decision shall be communicated to (4 > whomsoever is concerned for implementation, and shall be published in the Official Gazette in both Arabic and English. Chairman of the Board of Directors of C Issued in Abu Dhabi on 13/06/2019