Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Designated Non-financial Business and Professions (DNFBP) and Non-profit Organisations
Introduction
1- DHCA is committed to supporting the efforts and initiatives taken to combat money laundering and financing of terrorism, through the issuance of this Policy and shall cooperate with other government entities in order to ensure compliance with applicable AML laws and regulations.
2- This Policy has been prepared in compliance with the provisions of Federal Decree-Law No. 20/2018 and its implementing regulation issued by Cabinet Decision No. 10/2019. The Policy sets outs the main regulatory requirements that relate and are applicable to the activity of the DNFBP and the Non-Profit Organisations (as defined here below) operating under and/or having a trade licence issued by DHCA only, and cannot be relied upon to interpret or determine the application of the AML Law in its entirety or any other federal or local law.
3- This Policy shall be interpreted in accordance with the AML Law, and all concerned DNFBP and Non-Profit Organisations shall refer to such AML Law.
Definitions