Solutions

Central Bank of United Arab Emirates Guidelines

Anti-Money Laundering and Combatting the Financing of Terrorism (2021)

Financial crime remains a key focus area worldwide and in the UAE.

The Central Bank of the United Arab Emirates (CBUAE) has recently issued new guidance notes to assist all Licensed Financial Institutions (LFIs) with their Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) statutory obligations under the legal and regulatory framework in force in the UAE.

Each guidance comes into effect immediately upon its issuance by the CBUAE with LFIs expected to demonstrate compliance with its requirements within one month of the issued date.

As the CBUAE embarks on this complex and crucial task of enhancing the national AML and CFT framework, Deloitte can provide the right expertise, assistance and guidance to support LFIs on their journey to compliance with their AML and CFT obligations.

Click each guidance note below to learn how Deloitte can support you.

Guidance for Licensed Financial Institutions on the Risks Relating to Politically Exposed Persons

Date of issuance: 1 August 2022
Date of compliance: 1 September 2022

Guidance for Licensed Financial Institutions on the Risks Relating to Payments

Date of issuance: 1 August 2022
Date of compliance: 1 September 2022

Guidance for Licensed Exchange Houses

Date of issuance: 11 November 2021
Date of compliance: 11 December 2021

Guidance for Licensed Financial Institutions Providing Services to Cash Intensive Businesses

Date of issuance: 27 September 2021
Date of compliance: 27 October 2021

Guidance for Licensed Financial Institutions on Transaction Monitoring and Sanctions Screening

Date of issuance: 8 September 2021
Date of compliance: 8 October 2021

Guidance for Licensed Financial Institutions Providing Services to Registered Hawala Providers

Date of issuance: 15 August 2021
Date of compliance: 15 September 2021

Guidance for Licensed Financial Institutions Providing Services to the Real Estate and the Precious Metals and Stones Sectors

Date of issuance: 16 June 2021
Date of compliance: 16 July 2021

Guidance for Licensed Financial Institutions on Suspicious Transaction Reporting

Date of issuance: 7 June 2021
Date of compliance: 7 July 2021

Guidance for Licensed Financial Institutions Providing Services to Legal Persons and Arrangements

Date of issuance: 7 June 2021
Date of compliance: 7 July 2021

For more information on CBUAE’s guidelines on AML and CFT, please visit: https://www.centralbank.ae/en/cbuae-amlcft