Cabinet Resolution No. (10) of 2019 Concerning the Executive Regulations of Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering, Combating the Financing of Terrorism, and Illegal Organizations (security and safety law)

Article (1)  
For applying the provisions hereof , the following terms and expressions shall have the 
meanings ascribed thereto respectively , unless the context indicates otherwise:  
The State  : United Arab Emirates (UAE)  
The Minister  : Minister of Finance  
The Central Bank  : Central Bank of the United Arab Emirates  
Governor  : Governor of the Central Bank.  
The Committee  : The National Committee on Anti -Money Laundering and 
Combating the Financing of Terrorism and Illegal 
Organizations . 
FIU  : The Financial Information Unit  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  2 
 Regulatory Body  : Federal and local authorities tasked by the applicable 
Statutes to assume control over financial institutions, 
designated non -financial businesses and professions 
(DNFBPs), Virtual Asset Service Providers (VASPs), and non -
profit organizations (NPOs), or the authority competent  to 
approve the practice of the activity  or the profession  if the 
statutes do not designate the regulatory body . 
Law Enforcement 
Bodies  : Federal and local authorities assigned by the applicable 
Statutes to combat, search, investigate and collect evidence 
on crimes, including money laundering, financing of 
terrorism and illegal organizations crimes.  
Bodies Concerned  : Government bodies in charge of enforcing any provisi on of 
the Decree -Law in the State.  
Predicate Offence  : Each act that constitutes a felony or a misdemeanor  under 
the Statutes applicable in the State, whether committed 
inside or outside the State, whenever the same is 
punishable in both countries.  
Money Laundering  : Any of the actions specified in clause (1) of article (2) of the 
Decree -Law.  
Terrorism Financing  : Any of the actions specified in Articles (29) and (30) of 
Federal Law No. (7) of 2014 on Combating Terrorism 
Offences.  
Illegal 
Organizations  : Organizations whose establishment or any of their 
activities is criminalized.  
Financing I llegal 
Organizations  : Each physical act or legal attitude intended to provide funds 
for an illegal organization, or for any of the activities or 
members thereof.  
The Crime  : Money laundering crime and the predicate crimes relating 
thereto, or the financi ng of terrorism or illegal 
organizations.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  3 
 Funds  : Assets , whatever the method of their acquisition, their type 
and form , whether tangible or intangible; movable or 
immovable; electronic, digital or crypto; including the 
national currency, foreign currencies, legal instruments or 
deeds of whatever form, including electronic or digital 
documents, which prove ownership of suc h assets and 
relevant rights; economic resources that are assets of any 
kind, including natural resources, as well as bank credits, 
checks, payment orders, shares, securities, bonds, bills of 
exchange and letters of credit as well as any interests, profits  
or any other income generated from or arising out of such 
assets  which can be used to obtain any funding, commodity 
or services . 
Virtual Assets  : A digital representation of value that can be digitally traded 
or transferred, and that can be used for payment or 
investment purposes, and that does not include digital 
representation of fiat currencies, securities, or other funds.  
Proceeds  : Funds directly or indirectly generated from committing any 
felony or misdemeanour, including the profits, privilege s, 
economic benefits and any similar funds, whether 
transferred fully or partially into other funds.  
Instrumentalities  : Anything used or intended to be used for committing a 
felony or misdemeanour.  
Suspicious 
Transactions  : Transactions relating to funds in respect of which there are 
reasonable reasons to suspect that they are generated from 
committing any felony or misdemeanour, or are related to 
financing the terrorism or illegal organizations, whether 
such transactions had been completed or attemp ted.  
Freezing or Seizure  : Temporary prevention of the remittance, transfer, 
movement, exchange or otherwise disposal of money in Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  4 
 any manner by virtue of an order issued by a competent 
authority.  
Confiscation  : Permanent expropriation of private funds, p roceeds or 
instrumentalities by virtue of a judgment rendered by a 
competent court.  
 
Financial 
Institutions  : Each business entity that carries on one or more of the 
financial activities or transactions for the benefit or on behalf 
of a customer.  
Intermediary 
Financial Institution  : A financial institution receiving and delivering wire 
transfers from the remitting financial institution to the 
beneficiary financial institution or to any other 
intermediary financial institution.  
Beneficiary Financial 
Institution  : A financial institution that receives the wire transfer from 
the remitting financial institution directly or through an 
intermediary financial institution, and then makes the 
funds available to the beneficiary.  
Financial Activities 
or Transactions  : Any one or more activities or transactions provided for in 
article (2) hereof.  
Designated  Non -
Financial Businesses 
and Professions 
(DNFBPs)  : Anyone who carries on one or more of the commercial or 
professional businesses provided for in article (3) hereof.  
Non -Profit 
Organizations  : Each structured non -profit group continuing for a specified 
or an indefinite period of time and comprises natural or legal 
persons, or non - profit  legal arrangement  which receive or 
spend funds for charitable, religious, cultural, educational, 
social, solidarity or other philanthropic purposes.  
The Lega l 
Arrangement  : The relationship established between two or more parties by 
virtue of a contract including without limitation trust funds  
and other similar arrangements.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  5 
 Trust Fund  : A legal relationship whereby a Trustor confers upon the 
Trustee control over the Trustor's assets for the benefit of 
the beneficiary or for a certain purpose. Said assets are 
independent from the Trustor's own property. Title to the 
trustee's assets shall remain in the name of the Trustor or 
any other person acting on behalf o f the Trustor.  
Trustor  : A natural or legal person who confers upon the trustee the 
right to manage the Trustor's assets in accordance with a 
Trust Agreement.  
Trustee  : A natural or legal person exercising the rights and powers 
granted thereto and vested therein by the Trustor or by the 
Trust Fund, whereby the trustee manages, uses, and 
disposes of the Trustor's assets in accordance with the 
terms and conditions set forth by the Trustor and/ or the 
Trust Fund.  
Customer  : Anyone who performs or commences to perform any o f the 
actions defined in Articles (2) and (3) hereof in cooperation 
with any financial institution or DNFBPs  or Virtual Asset 
Service Providers (VASPs),  
Transaction  : Each disposal or use of funds or proceeds including, for 
example, deposit, withdrawal, transfer, sale, purchase, 
lending, exchange, mortgaging and gift.  
Beneficial Owner  : The natural person who owns or exercises ultimate actual 
control over the customer, or the natural person on whose 
behalf the transactions are made, or the person who 
exercises ultimate actual control over a legal person or a legal 
arrangement , whether dir ectly or through a chain of 
ownership or control, or other indirect means  
Virtual Asset Service 
Providers (VASPs),  : Any natural or legal person practicing, as a business, one or 
more activities or transactions related thereto for the benefit Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  6 
 of another n atural or legal person or on behalf thereof any of 
the following activities : 
1. Exchange between virtual assets and fiat currencies  
2. Exchange between one or more forms of virtual 
assets  
3. Transfer of virtual assets  
4. Safekeeping and/or administration of virtual assets 
or instruments enabling control over virtual assets . 
5. Providing and participating in financial services or 
activities related to an issuer's offer or sale of virtual 
assets  
Business 
Relationship  : Any continuing commercial or financial relationship 
between financial institutions or DNFBPs on one side and 
the customer on the other side, pertaining to the activities 
or services provided thereby to the customer.  
Correspondent 
Banking 
Relationship  : A relationship between a corres pondent financial 
institution and a beneficiary institution through a current 
account, any other kind of accounts, or any other related 
service. This includes correspondent relationship 
established for financial securities transactions or money 
transfer.  
Intermediary 
Accounts Payable  : Correspondent account used directly by a Third Party to 
perform transactions for his own interest.  
Financial Group  : A group of financial institutions composed of a holding 
company or any other legal person exercising contr ol over 
the remaining group members and  coordinating jobs to 
provide oversight and control over the group, its branches 
and subsidiaries, in accordance with the Core Principles for 
Effective Banking Supervision as well as the policies and 
arrangements of c ombating money -laundering and 
terrorism financing.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  7 
 Core Principles for 
Effective Banking 
Supervision  : Basel Committee on Banking Supervision's Principles Nos. 
(1), (2), (3), (5 through 9), (11 through 15), (26) and (29), 
IAIS  Principles Nos. (1), (3 through 11), (18), (21 through 
23), and (25), and IOSCO Principles Nos. (24), (28), (29), 
and (31) and the responsibilities Nos. (a), (b), (c), and (d).  
Wire Transfer  : A financial transaction made by the financial institution 
either itself or through an intermediary institution on behalf 
of the transferor, to deliver an amount of money to the 
beneficiary in another financial institution, whether the 
transferor and the beneficiary are the same person or not.  
Shell Bank  : A bank registered or licensed in a  country where it has no 
physical presence therein and  is not affiliated to any 
financial group that is subject to regulation and control.  
Registrar  : The competent body supervising the register of trade 
names of different businesses registered in the Sta te. 
Due Diligence 
Measures  : The process whereby the customer’s or the beneficial 
owner's information, nature of business, purpose of 
business relationship, structure of ownership and control 
are identified, whether said customer or beneficial owner is 
a natural or a legal person or a legal arrangement, for the 
purposes of this Decree -Law and this Resolution.  
Controlled Delivery  : A method whereby the competent authority allows illegal 
or suspicious funds or crime proceeds to enter into, pass 
through or  across or leave the State’s territory, in order to 
investigate a crime and to identify the perpetrators thereof.  
Undercover 
Operation  : An investigative technique whereby a judicial officer 
disguises his own identity, uses an assumed identity,  or 
perform s a covert or false role to obtain evidence or 
information pertaining to the crime.  
High -risk Customer  : The customer who constitutes a risk whether due to his own 
personality, activity, business relationship, business nature, Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  8 
 or the geographical territor y, including for example 
customers from high -risk countries, non -residents who do 
not have an identification card  from the state , personalities 
with complex  structures or who perform complex 
operations or operations lacking obvious economic or legal 
objectives, persons who perform intense cash transactions, 
enter into transactions with anonymous third -persons, or 
carry out non face -to-face transactions or any  other high -risk 
transactions defined by financial institutions, DNFBPs, or the 
regulatory bodies.  
Politically Exposed 
Persons (PEPs)  : An individual entrusted, either currently or formerly, with a 
prominent public office in the State or in any other State, 
including presidents of state and government, senior 
politicians, high -profile government officials, judicial or 
military officials, senior CEOs of state -owned companies, 
top ranking officials of political parties, and persons to 
whom the management  of international organizations or 
any prominent jobs therein are or were entrusted. The 
following are defined as PEPs:  
1ـ An immediate family member of such PEP; i.e., 
spouses, children, sons' spouses, and parents.  
2ـ  Any individual publicly known to be a clos e associates 
of the PEP including:  
a. Persons having joint usufruct in a legal personality 
or legal arrangement or having any close business 
relationship with the PEP; and  
b. Persons having sole usufruct in a legal personality or 
legal arrangement created for th e interest of the PEP  
Decree -Law  : Decree -Law No. (20) Of 2018 On Anti -Money Laundering, 
Combating the Financing of Terrorism and Illegal 
Organizations  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  9 
  
Chapter Two  
Financial Institutions, Designated Non-Financial Businesses and 
Professions (DNFBPs), Virtual Asset Service Providers (VASPs), and  
Non -Profit Organizations (NPOs)  
Part  One  
Financial Institutions and DNFBPs  
Section  One  
Financial and DNFBPs Activities and Operations

Article (2)  
The following transactions and activities are deemed financial:  
1. Recei ving  deposits and other billable assets from the public , including Sharia -
compliant deposits . 
2. Provi ding special banking services . 
3. Provi ding all kinds of credit facilities . 
4. Provi ding all kinds of financing  facilities including Sharia -complaint facility finances . 
5. Provi ding monetary  brokerage services . 
6. Financial transactions  involving securities, finance, and finance lease . 
7. Provi ding money exchange and transfer services . 
8. Issu ing and managing payment instruments, guarantees, or liabilities . 
9. Provi ding stored value, electronic retail payment, and digital cash services . 
10. Provi ding virtual banking transactions services . 
11. Trading or investment in, operating, or managing assets, option contracts, and future 
financial contracts , exchange and interest rates transactions , and other finan cial 
derivatives or negotiable financial instruments . 
12. Participating in the issuance of securities and provision of financial services pertaining 
to said issuance . 
13. Management of various kinds of fund s and portfolios . 
14. Custody of funds . 
15. Preparation or marketing arrangements for financial activities . Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  10 
 16. Direct insurance operations, reinsurance operations for the type and branches of 
insurance of persons, and capital formation operations in insurance compani es, 
insurance brokers and agents . 
17. Any other financial activity or transaction specified by the regulatory body .

Article (3)  
Everyone who performs any one or more of the following businesses or professions shall 
be deemed a DNFBP:  
1. Real estate brokers and agents in case they conclude transactions pertaining to the 
sale and purchase of real estate property for the interest of their clients . 
2. Dealers in precious metals and stones whenever they conduct a single cash 
transaction or seemingly related  multiple cash transactions with a value equivalent to 
or higher than AED 55 ,000 . 
3. Lawyers, notaries  public , other independent legal businesses, and independent 
accountants whenever they prepare, perform,  or carry out financial transactions  for 
the interest of their clients in connection with the following activities:  
a. Sale and purchase of real estates . 
b. Management of client's assets . 
c. Management of bank accounts, saving accounts, or securities accounts . 
d. Arranging for holding stakes in relation  to the incorporation, operation or 
management of companies . 
e. The incorporation , operation or management of legal persons  or legal 
arrangements; and  
f. Sale and purchase of commercial bodies . 
4. Credit companies and funds service providers whenever they conduct o r carry out 
transactions for the interest or on behalf of their clients involving  the following 
activities:  
a. Acting as an agent for establishing or incorporating legal persons . 
b. Acting as, or arrangi ng for another person to act as,  a director or secretary of a 
company, a partner of a partnership, or holding  similar position  in a legal persons . Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  11 
 c. Providing a registered office, business, residence, correspondence , or 
administrative addresses for a legal person or arrangement . 
d. Acting as,  or arranging for another person to act as, a direct trustee of trust fund, 
or performing a similar job for the interest of any other form of legal arrangements; 
and  
e. Acting as, or arranging for another person to act as, a nominee shareholder for the 
intere st of another person . 
5. Other business and professions defined by virtue of a resolution by the Minister.  
 
Section Two  
Risk  Identification  and Minimization

Article (4)  
1. Financial Institutions and DNFBPs shall identify, assess and understand their crime 
risks in line with the nature and volume of their businesses, and they shall : 
a. take into consideration all risk -factors pertaining to customers' risks, States or 
geographical regions, products, services, operations and their implementation 
channels before i dentifying the total risk level and the adequate risk reduction 
measures to be adopted; and  
b. document and regularly update risk assessment operations and make them 
available upon demand ; 
2. Financial Institutions and DNFBPs shall take appropriate actions to minimize the risks 
identified in accordance with Clause (1) of this Article, while taking the national risk 
assessment (NRA) results into consideration as follows : 
a. formulat e, develop and follow -up on the implementation of policies, regulations 
and internal measures approved by the senior administration and commensurate 
with nature and volume of businesses which enables them to manage risks which 
have been identified, and enhance the same if necessary, in accordance with 
article (20) hereof ; 
b. perfo rm Enhanced Due Diligence for managing high -risks whenever identified, for 
example:  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  12 
 1. Obtaining and verifying more information, including information about the 
customer and beneficial owner's identity, occupation, funds size and 
information available through  the public databases and open sources ; 
2. Obtaining additional information about the purpose of the work relationship 
or the reasons for the expected transactions or those which have already been 
carried out.  
3. Updating customer's due diligence information more regularly concerning the 
customer and the actual beneficiary;  
4. Adopting reasonable measures to identify the funds and wealth resources of 
the client and the beneficial owner ; 
5. Upscaling the degree and level of on -going control of the busines s 
relationship, to identify whether it seems unusual or suspicious and selecting 
the types of transactions requiring further examination and review ; 
6. Carrying out the first payment process through an account in the name of the 
customer at a financial instit ution applying similar due diligence measures;  
7. Obtaining the approval of senior administration to commence a business 
relationship with the customer;  
3. In case the requirements of Clauses (1) and (2) of this Article  are satisfied , Financial 
Institutions and DNFBPs ay adopt Simplified Due diligence measures  for risk 
management and reduction whenever low -risks are identified, unless a crime is 
suspected . Simplified Due diligence measures  shall be commensurate with low -risk 
elements i ncluding the following for example:  
a. Verifying the identity  of customer and actual beneficiary after the business 
relationship  is commenced ; 
b. Updating the customer's data at long intervals;  
c. Reducing the rate of on -going control and inspection of transactions; and  
d. Infer the nature and purpose of business relationship based on the kind of 
transactions or the business relationship  established,  with no need to collect data 
or adopt certain measures . 
 
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  13 
 Section  Three  
Customer Due Diligence (CDD)

Article (5)  
1. Financial Institutions  and DNFBPs shall verify the identities  of the customer and actual 
beneficiary prior to or during the creation of a business relationship or opening an 
account, or prior to conducting a transaction for a customer with whom no business 
relationship exists. In cases of low crime risks, verifying the customer's identity  may 
be completed after the business rel ationship is created subject to the following 
requirements : 
a. The identity  shall be verified as soon as possible as of the time of commencement 
of business relationship or the transaction  involved ; 
b. Verification postponement must be necessary in order not to impede ordinary 
work flow ; and  
c. Appropriate effective measures shall be adopted to control crime risks; and  
2. Financial Institutions and DNFBPs shall adopt risk management measures in 
connection with circumstances under which the customer is able to benefit from the 
business relationship prior to the verification  process .

Article (6)  
Financial Institutions and DNFBPs, as the case may be, shall adopt customers due 
diligence measures in the following cases:  
1. Commencement of business relationships;  
2. Perform ing incidental transactions for a customer whenever such transactions are 
equivalent to or exceeding AED 55 ,000 , whether it is a single transaction or seemingly -
related multiple transactions;  
3. Perform ing incidental transactions in the form of wire transfers equivalent to or 
exceeding AED 3 ,500;  
4. If a crime  is suspected ; and  
5. If there are doubts about the validity or adequacy of customer identification data 
obtained previously.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  14

Article (7)  
Financial Institutions and DNFBPs shall adopt Customer Due Diligence (CDD) measures 
and on-going control of  the business relationship , including the following:  
1. Auditing transactions performed throughout the period during which there is a 
business relations hip, in order to ensure consistency of transactions performed with 
the information  available about customer's data , pattern of activity, and risks 
represented thereby including, if necessary, information about the source of funds ; 
and  
2. Ensuring that the doc uments, data and information obtained and collected in the 
course of customer due diligence process are updated and adequate through auditing 
the records , including in particular records of high -risk customers.

Article (8)  
1. Financial Institutions and DNFBPs shall determine the identity of customers, whether 
permanent or incidental, verify whether the same is natural person, legal person, or 
legal arrangement, and they shall also verify the identity of the customer and the 
beneficial ow ner using the documents or data obtained from reliable independent 
sources or as follows : 
a. For natural persons : 
The official Name  as per the ID document or passport , nationality, address, place 
of birth,  and , where necessary, name and address of the employe r, true copy of a 
valid ID Card or Passport. beneficial owner . 
b. For legal persons and legal arrangements : 
1. Name, legal form and Memorandum of Association;  
2. Address of the headquarter s or principal business premises , and if the person 
is foreigner, name and address of  its legal representative in the State, if any, 
and a proof of the same shall be submitted;  
3. Articles of Association  or any similar approved documents ; and  
4. Names of related persons holding positions in the senior administration of the 
legal person or legal arrangement;  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  15 
 2. Financial Institutions and DNFBPs shall verify that any person acting on behalf of the 
customer is authorized to do so, and the identity of such person shall be ascertained 
in the manner set forth in Clause (1) of this Article ; 
3. The Financial Institutions and DNFBPs shall understand the purpose and nature of the 
business relationship and obtain information pertaining to this purpose as required ; 
and  
4. Financial Institutions and DNFBPs shall understand the customer's business nature , 
ownership structure, and control over the customer .

Article (9)  
Financial Institutions, and DNFBPs shall adopt reasonable measures that take into 
account the risks of the crime arising from the client and the business relationship to 
identify and verify the identity of the beneficial owner with respect to legal persons and 
legal arrangements using the information, data or documents obtained from a reliable and 
independent source as follows : 
1. For customers with legal personality:  
a. Obtaining ID Card of the natural person who works solely or jointly with any other 
person who holds an actual controlling stake in the legal person of (25%) or more ; 
and  
b. In case of failure to ascertain the identity of a natural person in accordance with 
the foregoing clause, or that there is doubt that the natural person who owns a 
stake or controlling stake is the beneficial owner or in case there is no national 
person who owns a controlling stake, it shall be required to identify the natural 
person who practices the actual o r legal control of the legal person or the legal 
arrangement through any direct or indirect means . 
c. In the case of failure to identify any natural person in accordance with Para (a and 
b) of this Clause the identity of the concerned natural person that hold s the 
position of high -profile government officials whether being a person or more.  
2. For customers with legal ar rangements:  
Identifying the Trustor, trustee, the beneficiaries or kinds of beneficiaries and every 
natural person exercising actual ultimate control through, inter alia, a chain of control Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  16 
 or ownership over the credit fund, directly or indirectly, and obtaining adequ ate 
information about the beneficial owner in a manner that enables his identity to be 
recognized upon payment or when he/she intends to exercise his/her legally acquired 
rights . 
Further, as regards the other legal arrangements the financial institutions shall identify 
the natural persons holding equal or similar positions.

Article (10)  
Financial Institutions, DNFBPs and VASPs shall be exempted from identifying and 
verifying the identity of the shareholder, partner or beneficial owner, provid ed that 
such information is obtained from reliable sources in cases where the customer or 
owner of the controlling interest is any of the following : 
1. A company listed on a stock exchange that is officially regulated and governed by the 
disclosure requiremen ts pursuant to any instrument imposing sufficient transparency 
requirements concerning beneficial owner ; and  
2. A subsidiary the majority of stocks or shares of which are owned by a holding 
company .

Article (11)  
1. In addition to due diligence measures required for the customer and the beneficial 
owner, financial institutions shall adopt due diligence measures and on -going control 
over the beneficiary of personal insurance policies and funds formation transactions, 
including investment -linked life insura nce products and Family Takaful Insurance, 
once the beneficiary is identified or named as follows : 
a. For nominated beneficiaries, the person's name whether it is a natural or legal 
person or legal arrangement, shall be obtained ; and  
b. For beneficiaries specified based on class or description, such as familial 
relationship, i.e., spouse or children, or based on any other instrument, such as a 
will or legacy, sufficient information about the beneficiary shall be obtained to Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  17 
 ensure that the fi nancial institution is capable of identifying the beneficiary upon 
payment of the compensation . 
c. The identity of the beneficiary shall be verified in both of the above cases upon the 
disbursement of compensations or dues or exercising of any rights related to the 
instruments.  
2. In all cases, financial institutions shall consider the customer and beneficiary of the life 
insurance and Family Takaful Insurance policies among the risk factors when 
identifying the applicability of enhanced due diligence mea sures, taking into account 
that in the case of finding that the beneficial owner is a legal person or a legal 
arrangement representing high -risk, the financial institutions shall take the enhanced 
due diligence measures including reasonable measures for id entifying the beneficial 
owner of the insurance policy and verify same upon the disbursement of 
compensations or exercising any rights pertaining to those policies .

Article (12)  
Financial Institutions and DNFBPs shall adopt due diligence measures for cust omers and 
business relationships exist ing at the time of entry of this Resolution into force. Same shall 
be performed at the times deemed appropriate based on the relative importance and risks. 
They shall ensure sufficiency of data obtained in case of adoption of due diligence 
measures before entry of this Resolution into force.

Article (13)  
1. Financial Institutions and DNFBPs may not create or continue in a business 
relationship nor carry out a transaction in case of failure to adopt customer due 
dilige nce measures . They shall consider reporting a ny suspicious transaction to the 
Unit.  
2. In case a transaction  is suspected , Financial Institutions and DNFBPs may refrain from 
applying customer due diligence measures  if they have reasonable justifications that 
applying said measures would alarm the customer. They shall submit a suspicious Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  18 
 transaction report to the Unit accompanied by the reasons requiring non -application 
of due diligence measures.

Article (14)  
Financial Institutions and DNFBPs  shall not:  
1. Make any transactions with shell bank s in any way whether through opening bank 
accounts,  or accepting funds or deposits therefrom; and  
2. Open or maintain bank accounts using nicknames, pseudonym, or fake names or 
using numbers without providing the names of their owners.  
 
Section Four  
Politically Exposed Persons (PEPs)

Article (15)  
1. In addition to customer due diligence measures under Section Three  of Part One  of 
this Chapter, Financial Institutions, Businesses and DNFBPs shall apply the following : 
First:  Foreign politically exposed persons:  
a. Develop appropriate risk management systems if the customer or the beneficial 
owner is considered a PEP ; 
b. Senior administration's approval shall be obtained prior to creating or maintaining 
a business relationship for current PEPs customers ; 
c. Adopt ing reasonable procedures to determ ine financial resources of customers 
and actual beneficiaries who are identified as PEPs ; and  
d. Conducting enhanced follow -up on business relationship . 
Second:  Local PEPs and persons who ha d occupied a prominent position in an 
international organization:  
a. Adequate measures shall be taken to identify whether the customer or actual 
beneficiary is deemed a PEP . 
b. In case a high -risk business relationship is already in place with such persons, the 
measures set forth in Clauses (b), (c), and (d) of Para  (i) of this Article shall be 
adopted.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  19 
 2. Without prejudice to Clause (1) of this article, financial institutions concerned with life 
insurance and Family Takaful Insurance policies shall adopt reasonable measures to 
identify whether the beneficiary or be neficial owner of life insurance and Family 
Takaful Insurance policies is a PEP prior to the payment of claims or entitlements or 
exercising any rights pertaining to such policies. Upon the presence of higher risks, 
financial institutions shall notify the senior management before paying any 
compensations or entitlements or exercising any rights pertaining thereto, in addition 
to scrutinizing the entire business relationship and considering notifying the FIU the 
presence of a suspicious transaction . 
 
Section Five  
Suspicious Transaction Reporting (STR )

Article (16)  
In compliance with the instructions of regulatory bodies or of the Unit, Financial 
institutions and DNFBPs shall develop  indicators whereby they can identify the suspicion 
of crime commi ssion  so as to report the same by way of STR . Said indicators shall be 
updated on an going basis as required by the development and diversity of crime  
commission technique s.

Article (17)  
1. In case Financial Institutions and DNFBPs have strong suspicions or reasonable causes 
to suspect that a particular transaction or an attempt to carry out a transaction or funds 
represent crime proceeds in whole or in part, or are suspected to be related to or will 
be used in a crime, notwithstanding the value  thereof, Financial Institutions, and 
DNFBPs shall abide by the following measures without using banking, professional or 
contractual confidentiality as a pretext : 
a. Directly notify the FIU of the suspicious transactions without delay through the 
FIU's elect ronic systems or any other means approved by the FIU ; and  
b. Respond to all requirements of the FIU concerning any additional information . Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  20 
 2. Lawyers, notaries, other independent legal professionals, and independent legal 
auditors shall be excluded from the requirements of Clause (1) of this Article if the 
information pertaining to these transactions is obtained on account of their 
assessment of  the customer's legal position, or for defending or representing the 
customer before Courts, arbitration or mediation, or for expressing legal opinion on a 
certain issue pertaining to judicial proceedings, including the provision of 
consultations on the co mmencement or avoidance of such proceedings, whether said 
information is obtained before or during such judicial proceedings or, after ending the 
same, or obtained under other circumstances where they are subject to professional 
confidentiality . 
3. Upon notifying or providing information the FIU in good faith, Financial Institutions 
DNFBPs, VASPs and their board members, employees, and legally authorized 
representatives shall not bear any administrative, civil, or criminal responsibilities 
resulting from whistleblowing when they notify the FIU or provide it with any 
information in good faith even if they do not know precisely the nature of the crime 
or that it actually took place  .

Article (18)  
1. Financial Institutions and DNFBPs, their directors, officers,  and staff may neither 
disclose, directly or indirectly to the customer or any other person, that they have 
reported or are about to report the suspicious transactions to the FIU, nor disclose any 
information or data pertaining thereto or any investigation s thereon. This does not 
preclude sharing information with branches and subsidiaries at the level of the 
financial group in accordance with the provisions of article (31) of this resolution.  
2. Lawyers', notaries', other independent legal professionals' or in dependent legal 
auditors' attempts to prevent their customers from committing an act involving 
violation of the law shall not be deemed an act of disclosure . 
 
 
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  21 
 Section  Six 
Dependence on Third  Parties

Article (19)  
1. Taking into considerations the states defined by the Committee as high -risk states and 
the states that suffer weaknesses in their Anti -Money Laundering and Terrorist 
Financing Combating Systems, Financial Institutions and DNFBPs may use third 
parties  to pe rform due diligence measures concerning customers in accordance with 
Section Three , Part One  of this Chapter. The Financial Institutions and DNFBPs shall 
be responsible for the validity of said measures, and they shall:  
a. Promptly obtain the third parties ' identification data and necessary information 
gathered during the performance of customer due diligence measures, and ensure 
obtaining copies of documents necessary for such measures promptly upon 
request; and  
b. Ensure that the third -party is subjec ted to regulation and supervision, abides by 
the requirements of customer due diligence measures and maintenance of records 
provided for under this Resolution.  
2. Financial Institutions, Businesses and DNFBPs who seek assistance of a third -party 
which is a member of the financial group shall ensure that:  
a. The group adheres to the requirements of due diligence measures concerning 
PEPs, maintains the records, and implements crime combating programs pursuant 
to Sections Three , Four , and Eleven  of Part One  of thi s Chapter, and article (31) 
hereof, and that the group is subject to supervision and control in this respect; and  
b. Adequately minimize any high risks  related to countries through the group's crime 
combating policies and regulations . 
 
Section Seven  
Internal Control  and Overseas Branches and Subsidiaries

Article (20)  
Financial Institution s and DNFBPs shall develop and continually update internal policies, 
procedures and controls to combat crimes , all of which shall be commensurate with Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  22 
 crime -risks, and nature and size of their businesses. Same shall be applied to all branches 
and subsidiaries in which they hold a majority interest. Said policies, procedures and 
controls shall include the following:  
1. Custom er due diligence measures  in the manner required pursuant to the Decree -Law 
and this Resolution , including business relationships risk management  procedures 
prior to completion of the verification process;  
2. Suspicious transactions reporting procedures;  
3. Appr opriate compliance management measures for crime combating  including 
compliance officers appointment;  
4. Inspection procedures to ensure presence of high efficiency and efficacy criteria for 
employment;  
5. Prepare regular programs and workshops in all crime combating fields in order to 
build capacities and qualify compliance employees and other concerned employees; 
and  
6. An independent auditing function to test the efficiency and adequacy of internal 
controls and regulations concerning crime combating.  
 
Section Eight  
Compliance Officer's Tasks

Article (21)  
Financial Institutions and DNFBPs shall appoint a compliance officer having the 
appropriate efficiency and vast experience and under their responsibility, and shall 
perform the following responsibilities : 
1. Detect transactions pertaining to crimes  ; 
2. Review the records, receive, inspect, and examine data about suspicious transactions, 
and make the decision either to report the same to the FIU or to discontinue 
investigation and provide reasons therefor. Same shall be made under strict 
confidentiality  ; 
3. Review internal systems and procedures adopted to confront money -laundering and 
to combat terrorism and illegal organizations financing, ensure comp liance of the Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  23 
 same with the provisions of the Decree -Law and this Resolution, assess the 
institution's adherence to implementation of said systems and procedures, propose 
necessary updates and improvement thereof, prepare and submit to the senior 
administr ation biannual reports thereon, and submit a copy of these reports to the 
Regulatory Body concerned accompanied by the senior administration's notes and 
decisions  ; 
4. Develop, implement, and document on -going institution employees' training and 
qualification programs and plans concerning all issues pertaining to money -laundry, 
terrorism financing, illegal organizations financing, and methods of combating the 
same; and  
5. Cooperate with the Regulatory Body and the FIU, provide them with required data, 
enable their  assigned employees to have access to records and documents necessary 
for performance of their duties.  
 
Section Nine  
High -Risk Countries

Article (22)  
1. Financial Institutions and DNFBPs shall adopt enhanced due diligence measures that 
are proportionate to the risk level which may arise out of business relationships or 
transactions with a natural or legal person from the states determined by the 
Committee as high -risk states or the states that suffer weaknesses in their Anti -Money 
Laundering  and Financing of Terrorism Combating Systems.  
2. Financial Institutions and DNFBPs shall adopt the countermeasures and any other 
measures required by the supervisory bodies proprio motu or as determined by the 
Committee in respect of the high -risk states and  the states that suffer weaknesses in 
their Anti -Money Laundering and Financing of Terrorism Combating Systems . 
 
 
 
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  24 
 Section Ten  
Modern Technologies Related Requirements

Article (23)  
1. Financial Institutions and DNFBPs shall identify and assess risks of money laundering 
and terrorism financing , which may arise out of the development of new products or 
new professional practices including new means of rendering services or use of new 
or under development technologies for every new or existing product; and  
2. Financial Institutions and DNFBPs shall assess risks prior to launching or using 
products, practices, or technologies, and shall take appropriate actions for the 
management and reduction  of risks . 
 
Section Eleven  
Recordkeeping

Article (24)  
1. Financial Institutions and DNFBPs shall maintain all records, exhibits, documents and 
data pertaining to all financial, commercial and monetary local or international 
operations and transactions for no less than five years as of the date of completion of 
a transaction or termination of the business relationship with the customer ; 
2. Financial Institutions and DNFBPs shall maintain all records and documents obtained 
during the performance of customer due diligence and on -going control as well as all 
accounting files, commercial correspondence, copies of personal IDs documents 
including suspicious transactions reports and results of any analysis performed. Same 
shall be maintained for no less than five years as of the date of termination of business 
relationship,  as of the date on which accounts of customers who have accounts with 
said institutions are closed, or the date of completion of an incidental transaction, or 
the date of completing the inspection conducted by the supervisory bodies, or the date 
of complet ing the investigation, or the date on which a conclusive judgement is 
rendered by the competent judicial authorities, as the case may be ; 
3. The records, exhibits and documents maintained shall be organized in a manner 
allowing for re-structuring or re -arranging individual transactions, data analyses and Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  25 
 tracking the financial transactions in such a manner as to provide, when necessary, 
evidence for prosecuting a criminal activity.  
4. Financial Institutions and DNFBPs shall make all cus tomers' information pertaining to 
customer due diligence, on -going control and their analysis results, and related 
records, files, documents, correspondence and forms related thereto promptly 
available to the bodies concerned upon their request . 
 
Part Two 
Financial Institutions ' Obligations  
Section One  
Correspondent Banking Relationships (CBRs)

Article (25)  
1. Before entering into a correspondent banking relationship or any similar relationship, 
financial institutions shall abide by the following measures : 
a. Refrain from entering into or keeping a correspondent banking relationship with 
any shell bank  or any other institution which al lows the use of their accounts by a 
shell bank ; 
b. Gather sufficient information about any recipient correspondent institution for 
the purpose of identifying its identity  and full understanding of the nature of its 
business. Through publicly available information, financial institutions shall 
collect information about the reputation of said institutions, level of control 
applied thereto, and whether it has been subjected to any investigations 
pertaining to a crime or to a regulatory action;  
c. Assess crime combating procedures adopted by the recipient institution;  
d. Obtain the senior management 's approval prior to making new correspondent 
banking relationships; and  
e. Understand responsibilities of each institution in terms of crime combating.  
2. With re spect to intermediary accounts payable, the financial institution shall be 
committed to ensure that the recipient institution has adopted customer due diligence Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  26 
 measures  towards customers who have direct access to these accounts, and that it can 
make relev ant customer due diligence information available upon request of the 
correspondent institution.  
 
Section Two  
Money or Value Transfer Services (MVTS)

Article (26)  
1. Provider of money or value transfer services (MVTS) shall be licensed by or registered 
with the regulatory body  concerned . The latter shall take necessary actions to punish 
unlicensed or unregistered service providers in accordance with the applicable 
legislation, and shall ensure compliance by licensed and registered service prov iders 
with the crime combating regulations.  
2. MVT service providers shall maintain an updated list of their agents and make said list 
available to the Bodies Concerned  inside the State wherein the MVT services providers 
or their agents operate, shall engage said agents in crime combating programs, and 
shall monitor said agents' compliance with such programs.  
 
Section Three  
Wire Transfers

Article (27)  
1. Financial institutions shall ensure that all international wire transfers amounting to or 
exceeding AED 3,500 are always accompanied by : 
a. Full name of the transferor and beneficiary ; 
b. Account  number of both the transferor and beneficiary, and in case that there is 
no account, the transfer shall include a unique reference number enabling the 
institution to trac k the transfer . 
c. Transferor's address, ID number, passport number, date and place of birth, 
customer identification number with the transferring financial institutions, which 
shall refer to a record that includes such information.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  27 
 2. In case of  gathering several international wire transfers made by one transferor in one 
file to be transferred to beneficiaries, said file shall include accurate data about the 
transferor and full information about the beneficiaries thus enabling tracking of all of 
them in the beneficiary's country. The financial institution is required to include the 
transferor's account number, or a unique transaction reference number . 
3. Financial institutions shall ensure that all international wire transfers of less than AED 
3500 ar e accompanied by the data contained in Clause (1) of this Article without need 
to verify the validity of said data, unless there are doubts about committing a crime . 
4. Financial institutions remitting local wire transfers shall ensure that the wire transfers  
data include data about the transferor aforementioned in Clause (1) of this Article, 
unless said data is available to beneficiary financial institutions and entities concerned 
by other means . 
5. When the data accompanying the local wire transfer is available  to beneficiary 
financial institutions and entities concerned by other means, the transferring financial 
institution is required to include only the account number or the unique transaction 
reference number, provided that said number allows for tracking tr ansactions of the 
transferor or beneficiary. The transferring financial institution is required to make this 
data available within three business days as of the date or receipt of the beneficiary 
financial institution's or the competent body's request . 
6. Financial institutions may not perform wire transfers if the requirements provided for 
in this Article are not satisfied . 
7. The transferring financial institutions shall maintain all information gathered about 
the transferor and the beneficiary pursuant to provisions of article (24) hereof .

Article (28)  
1. Intermediary financial institutions shall ensure that all information about the 
transferor and the beneficiary is attached to international wire transfers.  
2. In case there are technological restrictions preven ting maintenance of transferor's and 
beneficiary's data in case of receipt of an  international wire transfer  along with local 
wire transfer data if such international wire transfer  is made internally , in this case, the 
intermediary financial institutions receiving the international transfer shall maintain Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  28 
 a record containing all information obtained from the transferring financial institution 
or from an intermediary institution outside the State in accordance with pr ovisions of 
article (24) hereof . 
3. Intermediary financial institutions shall adopt reasonable and direct measures to 
identify international wire transfers lacking required information about the transferor 
or the beneficiary , and it shall formulate and develo p risk -based policies and 
procedures to determine cases of making, reject ing, or suspending  such transfers as 
well as appropriate follow -up thereon.

Article (29)  
1. Beneficiary financial institutions shall take reasonable actions to identify international 
wire transfers lacking required information about the transferor or the beneficiary 
such as following -up thereon at the time of making these transfers whenever  possi ble, 
or after implementation thereof.  
2. Beneficiary financial institutions shall verify the identity  of beneficiary from 
international wire transfers amounting to or exceeding AED 3500 if it hasn't been 
verified before.  
3. Beneficiary financial institutions sha ll formulate and develop risk -based policies and 
procedures to determine whenever  of transfers lacking information about the 
transferor or beneficiary are made, rejected, or suspended and specify appropriate 
follow -up procedures.  
4. Beneficiary financial inst itutions shall  maintain all information gathered about the 
transferor and beneficiary in accordance with provisions of article (24) hereof .

Article (30)  
1. MVT service providers shall satisfy the relevant requirements provided for in Articles 
(27), (28) and (29) hereof  whether they perform their works directly or through 
agents.  
2. If the MVT service provider is the same transferor from the State and the recipient in 
another State, the same shall:  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  29 
 a. Gather all information about the transferor and the beneficiary to consider 
whether or not to submit a report on suspicious transaction.  
b. If it is decided that a report be submitted on a suspicious transaction concerning 
the transaction, the report shall b e submitted to the FIU in the State concerned 
accompanied by all relevant information . 
Section Four  
Financial Groups

Article (31)  
Financial groups shall implement group -wide programs concerning crime combating, 
provided that said programs be applicable to all branches and subsidiaries wherein the 
group owns the majority. In addition to the measures provided for in article (20) hereof, 
said programs shall include : 
1. Policies and procedures on the exchange of the information required for the purposes 
of customer due diligence and crime -risks management;  
2. Information pertaining to customers, accounts and transactions shall be made 
available by the branches and subsidiaries to the compliance, audit, anti -money 
laundering and terrorist financing c ombating officers at the financial group level 
whenever necessary for the purposes of crime combating. Such information shall 
include analysis information of the transactions or activities which appear unusual or 
suspicious and the reported suspicious tran sactions reports and their basic 
information or whatever proves the reporting of a suspicious translation. In all cases, 
such information shall be made available to the branches and subsidiaries when 
necessary and whenever is convenient and suitable to the  Risk Department ; and  
3. Adequate guarantees concerning confidentiality and use of exchanged information  
shall be provided .

Article (32)  
1. Financial institutions shall ensure that their branches outside the State and 
subsidiaries wherein it holds the majority are adopting crime combating  measures 
that are consistent with the requirements of the Decree -Law and this Resolution in Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  30 
 case that crime combating  measures adopted in said country are less strict than those 
adopted in the State . Same shall be made within the limits permitted by the laws and 
regulations of the other country.  
2. If the other country does not allow appropriate implementatio n of crime combating  
measures consistently with the requirements of the Decree -Law and this Resolution, 
financial institutions shall adopt additional measures for appropriate management 
and limitation of money laundering and terrorism financing risks relat ed to their 
transactions abroad. The regulatory body in that country shall be notified of the same , 
and the instructions received therefrom in this respect shall be adhered to.  
 
Part Three  
Obligations of Non -Profit Organizations (NPOs)

Article (33)  
In coordination with the regulatory body concerned, NPOs shall:  
1. Implement the best practices approved by the Regulatory Body  concerned to remedy 
weaknesses in a manner enabling them to protect themselves against misuse thereof 
through terrorism and illegal or ganizations financing;  
2. Formulate obvious policies enhancing transparency, integrity, and public trust in its 
management; and  
3. Make their transactions through official financial channels , while taking into 
consideration the various capacities of financial sectors in different countries.  
 
Part Four  
Virtual Asset Service Providers (VASPs ) 
Article 33 (BIS  1) 
1. Each natural or legal person that practices any VASPs activities or provides their 
products or services or carries out their transactions from within the state shall be 
licensed, recorded or registered as the case may be with the competent Regulatory 
Body  . Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  31 
 2. The Regulatory Body of VASPs, each within its respective competence, shall issue the 
resolutions, circulars and procedures r equired for the purpose of sufficient regulation 
thereof while observing the risks that have already been determined, in such a manner 
as to comply with the provisions of the decree -law and this resolution . 
3. In all cases the Regulatory Body of VASPs shall, of their own volition or in coordination 
with the competent authorities, take the measures required to identify any person 
practicing any VASPs activities in violation of the provision of Clause (1) of this Article 
and apply thereto the appropriate penalti es. Such measures may include:  
a. Reviewing the general databases and the open sources to identify the relevant 
announcements through the internet or through the potential purchase orders of 
businesses submitted by a non -licensed, non -listed or non -registered  person.  
b. Establishing feedback channels with the relevant bodies or communication 
channels to receive the general comments from the public in this regard.  
c. Coordinating with the FIU to obtain the information has available thereto such as 
suspicious transact ion reports or the results of the other information collection 
processes carried out by it.  
d. Reviewing the information not available to the public, such as the information 
concerning the refusal, suspension, restriction or cancellation of a license, entry or 
registration of the activities of VASPs and any relevant information with the law 
enforcement bodies concerned.  
4. Subject to the provisions of Chapter ( 7) of this Resolution, the bodies concerned may, 
in accordance with statutes in force in the Stat e and the international conventions to 
which the state is a party or on the condition of reciprocity, respond to the requests of 
international cooperation related to the predicate crimes or to money laundering, 
financing of terrorism or financing of illega l organizations crimes related to Virtual 
Assets and VASPs as soon as possible and as much as possible regardless of the nature 
and the different names of the regulatory bodies or the status of VASPs in the other 
states.  
 
 
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  32 
 Article 33 (BIS 2)  
VASPs shall identify, assess, manage and reduce the risks related to anti -money laundry 
and financing of terrorism in accordance with the provisions of Clauses (1) and (2) of 
article (4) of this Resolution.  
 
Article 33 (BIS 3)  
VASPs shall comply with the provisions of Articles (5 -9), (12 -15.1), (16, 17.1, 18.1, 19 -32, 
35, 38, 39) and (60) of this Resolution while observing the following:  
1. Performing the due diligence towards the customers when carrying out incidental 
transactions equal to or exceeding (AED 3,500);  
2. The VASP (originator) shall obtain and retain the data of the transferor accurately, 
request the data of the beneficiary and submit such information to the beneficiary 
VASP or the financial institution, if any, immediately and securely and shall ma ke same 
available to the competent authorities.  
3. The VASP (beneficiary) shall obtain and retain the information of the transferor and 
beneficiary of the required transfer transaction accurately and make it available to the 
competent authorities.  
4. All the req uirements contained in this Section of the Resolution shall be satisfied by 
the financial institutions while carrying out a transaction involving sending or 
receiving transfer of virtual assets on behalf of the customer.  
 
Chapter Three  
Transparency and Actual Beneficiary  
Part One  
Registrar's and Companies' Obligations

Article (34)  
1. The Registrar shall provide the information about legal persons in the State and make 
said information available to the public as follows:  
a. Description of their various kinds, and forms and main policies;  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  33 
 b. Procedures of formation thereof;  
c. Procedures of obtaining the basic information in the manner provided for in Para. 
(b) of Clause (1) of article (8) hereof ; and  
d. Procedures of obtaining information pertaining to the actual beneficiary.  
2. The Registrar shall maintain basic updated information i ncluded in Para. (b) of  Clause 
(1) of article (8) hereof , and shall ensure accuracy and availability thereof to the 
public.  
3. Upon registratio n of companies, the registrar  shall obtain, update and make available 
to the entities concerned the company's actual beneficiary's data in the manner 
provided for in Clause (1) of article (9) hereof .

Article (35) 
1. Companies shall maintain the information required under Para. (b) of Clause (1) of 
article (8) hereof , together with partners or shareholders register, number of stocks or 
shares held by each of them, classes of shares, if any, and nature of relevant votin g 
rights, and shall make such information available to the registrar after verifying their 
accuracy.  
2. Companies shall maintain information required under Clause (1) of article (9) hereof  
and make such information available to the registrar in all cases and upon request. 
Same shall be updated every fifteen business days in case of making any amendments 
or changes thereto. Companies shall always ensure accuracy of said information and 
shall provide assistance in documentation of the same if necessary.  
3. Companie s shall have one or more natural person s residing in the State and is 
authorized to disclose all information required under Clauses (1) and (2) of this Article 
to the registrar.  
4. Any company incorporated and registered in the State may not issue stock warra nties 
for holder thereof.  
5. Companies issuing shares in the names of persons or of board members shall disclose 
information about said shares and identities  of said persons or board members to the 
registrar for registration of the same.  
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  34

Article (36)  
The Registrar, companies, their managers, liquidators, or  persons concerned with 
dissolution of thereof shall maintain all the records and information aforementioned in 
Articles (34) and (35) for no less than five years as of the date of dissolution or dem ise of 
the company.  
 
Part  Two  
Obligations  of the Legal Arrangements

Article (37)  
1. Legal arrangements ' trustees shall maintain information about the actual beneficiary 
in the manner provided for under Clause (2) of article (9) hereof . 
2. Legal arrangements ' trustees shall maintain the basic information about  mediators , 
who are subject to control , and service providers, including investment consultants, 
directors, accountants,  and tax consultants.  
3. The trustees in the legal arrangements shall disclose their status to the Financial 
Institutions, DNFBPs and VASPs when establishing a business relations hip or 
implementing an incidental transaction exceeding the limit specified under this 
resolution and provide them with the information related to the beneficial owner and 
the assets that shall be kept or managed under the conditions of the business 
relati onship once they request the same.  
4. The Information required under Clauses (1) and (2 ) of this Article shall be maintained 
in an accurate form and shall be updated within fifteen business days in case of 
making any amendments or changes thereto. Representatives of legal arrangements 
shall maintain said information for five years as of the d ate of termination of their 
relationship with the legal arrangement.  
5. The bodies concerned, and law enforcement authorities in particular, may request and 
promptly receive information maintained by trustees, financial institutions or DNFBPs 
and VASPs pertai ning to : 
a. Legal arrangement 's actual beneficiary;  
b. Trustee's place of residence; and  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  35 
 c. The funds retained or managed by the financial institution or DNFBPs  and VASPs  
pertain ing to any trustee with whom  they have a business relationship, or for 
whose account th ey make any incidental transaction.  
 
Part Three  
Prohibit ed Pretext of Banking Confidentiality , Professional , or 
Contractual Confidentiality

Article (38)  
Banking confidentiality , professional or contractual confidentiality  may not be relied 
upon as a pretext to prevent implementation of the provisions of the Decree -Law and 
hereof  in the following cases:  
1. Information exchange among financial institutions whenever the same is pertaining 
to correspondent banking relationships (CBR), wire t ransfers, or employment of 
organized third parties  under provisions of Articles (19), (25), (27) through (30) 
hereof . 
2. Exchange of i nformation relevant to combating crime among entities concerned at the 
local and international  levels.  
Part Four  
Confidentiality of Information

Article (39)  
1. Everyone who obtains information relating to suspicious transaction or any of the 
crimes provided for in the Decree -Law shall maintain its confidentiality and shall not 
disclose the same to Third Parties, except to the extent necessary for purposes of 
investigations, lawsuits, or proceedings pertaining to  violation of the provisions of the 
Decree -Law and this Resolution.  
2. In all cases, any procedures brought agai nst the customer may not be communicated 
thereto whether directly or indirectly unless under written request of the regulatory 
body concerned . 
3.  
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  36 
 Chapter  Four  
Financial Information Unit (FIU)  
Part One  
Autonomy of the FIU

Article (40)  
1. The FIU enjoys operational autonomy in performance of its tasks effectively. The 
Central Bank shall provide the FIU with necessary human, financial and technical 
resources.  
2. The FIU headquarters shall be  in the Capital of the State. The FIU may open branches 
thereof insid e the Central Bank Branches in the Emirates of the State.  
3. The FIU operates as a national center for receiving suspicious transactions reports and 
other information relevant to crime.  
 
Part Two  
Competencies of the FIU

Article (41)  
The FIU shall:  
1. Set up the structure of its departments, develop its bylaws, and obtain approval of the 
Central Bank to the same, provided that the bylaws include  procedures ensuring 
employees' efficacy,  integrity , and awareness of responsibilities pertaining to dealing 
with con fidential information;  
2. Create a database or special register including the information available thereto, and 
shall protect the same through setting information security and confidentiality control 
rules including information processing, storing, and refer encing procedures, as well as 
procedures of limited access to, inaccessibility non -disclosure of the FIU's institutions, 
information and technological systems except by the authorized persons;  
3. Provide training and qualification courses and programs for its  employees or 
employees of any other body  inside or outside the State;  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  37 
 4. Conduct studies, researches, and statistics relevant to crime, and follow -up on any 
studies, researches, and statistics prepared locally or internationally in this respect; 
and  
5. Prepare annual reports on its activities in the field of crime combating. Said reports 
shall include, in particular, a general analysis of the notices and reports received 
thereby on suspicious transactions, crime activities and trends, and shall prepare a  
summary of said report for publication.

Article (42)  
In the course of performing its tasks relevant to suspicious transactions reports, the FIU 
shall : 
1. Receive, consider, analyze, and store in its database the reports submitted thereto by 
Financial Institutions, DNFBPs and VASPs using the forms prepared by the FIU ; 
2. Request that Financial Institutions DNFBPs, VASPs, and entities concerned to provide 
and submit any additional information or documents pertaining to the reports and 
information received thereby as well as any other information deemed necessary for 
the FIU to perform its tasks including information about customs disclosures. Same 
shall be submitted at the times and in the forms defined by the FIU ; 
3. Analyze information and reports available thereto as follows : 
a. Perform operational analysis using the information available or possible to be 
obtained in order to identify the identity of certain targets such as persons, funds, 
or crime networks, track certain activities or transa ctions, and find links between 
said targets, activities or transactions on one side and potential proceeds of the 
crime on the other side ;  
b. Perform strategic analysis using the information available or possible to be 
obtained including data submitted by th e entities concerned in order to identify 
crime trends and patterns ; 
4. Supply Financial Institutions, DNFBPs and VASPs with the results of analysis of 
information submitted about the reports received by the FIU in order to enhance the 
efficient implementatio n of procedures of crime combating and detection of 
suspicious transactions ; Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  38 
 5. Cooperate and coordinate with regulatory bodies by way of referring results of 
analyses conducted thereby with respect to quality of received reports to ensure 
compliance of Finan cial Institutions, DNFBPs and VASPs with crime combating 
procedures ; 
6. Refer the data pertaining to reports, analyses reports and other relevant information 
to law enforcement bodies for necessary action whenever there are sufficient reasons 
to suspect their  relation to the crime; and  
7. Provide the judicial bodies and law enforcement bodies with crime -related 
information and the information possible to be obtained from FIUs in other countries 
whether automatically or upon request .

Article (43)  
In the course of performing its task at the international level, the FIU shall:  
1. Exchange information with counterpart FIUs in other countries concerning suspicious 
transactions reports or any other information the FIU is entitled to obtain or has direct 
or in direct access thereto subject to the international conventions to which the State 
is a party, or any Understanding concluded between the FIU and counterpart FIUs to 
organize coordination therewith or on condition of reciprocity;  
2. Notify counterpart FIUs of the results of use of information submitted and analyses 
conducted based thereupon;  
3. Not use the information contained in Clauses (1) and (2) of this Article unless for the 
purposes of crime combating, and may not disclose the same to any third -parties 
with out approval of the FIU;  
4. Follow -up on the updates concerning the crimes of money laundering and terrorism 
financing through regional and international organizations concerned, and participate 
in relevant meetings; and  
5. Follow -up on the Egmont Group's requir ement, attend and participate in its meetings 
in its capacity as a member of the Group.  
 
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  39 
 Chapter Five  
Regulatory Bodies  
Part One  
Regulatory Bodies  of Financial Institutions and DNFBPs

Article (44)  
Financial Institutions, DNFBPs and VASPs of Financial Institutions, DNFBPs and VASP, 
each within its competences, shall provide supervision, control, and follow -up to ensure 
compliance with the provisions provided for under the Decree -Law and this Resolution, 
and other supervisory decisions and shal l: 
1. Identify potential crime -risks in legal persons and assess and upgrade same provided 
that this includes Financial Institutions, DNFBPs and the activities of Virtual Assets and 
VASPs ; 
2. Develop a risk -based approach to guarantee that the measures to prevent or mitigate 
money -laundering and the financing of terrorism are commensurate with the specific 
risks ; 
3. Develop directions, systems, and forms concerning crime combating by bodies 
governed by its regulations when necessary;  
4. Formulate necessary polici es, procedures and controls to verify that those controlled 
thereby comply with the Provisions of the Decree -Law, this Resolutions, and any other 
legislation relevant to crime combating in the State, and request information 
pertaining to fulfillment of thi s obligation;  
5. Develop and set competence and capability systems, rules and criteria and apply the 
same to anyone who desires to own, control, or participate directly or indirectly in the 
management or operation of Financial Institutions, DNFBPs or VASPs, o r to their 
beneficial owner ; 
6. Perform office and field supervision and inspections of Financial Institutions, DNFBPs 
and VASPs based on a risk -based approach ;  
7. Define the periodicity of supervision and inspections of Financial Institutions, 
Financial Groups , DNFBPs and VASPs based on the following : 
a. National risk -assessment;  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  40 
 b. Features of Financial Institutions, Financial Groups, DNFBPs and VASPs in terms 
of their diversity, numbers, and degree of freedom of disposal granted thereto 
according to the risk -based approach (RBA); and  
c. Crime -risks and understanding of same, internal policies and controls, and 
procedures applied by the financial institutions, financial groups, DNFBPs or 
VASPs in accordance with the Regulatory Body's assessment of the risk -structure 
of each ; 
8. Adopt all measures which would ensure full compliance by Financial Institutions, 
DNFBPs and VASPs with implementation of Security Council Resolutions pertaining 
to Prevention and Suppression of Terrorism and financing thereof, prevention and 
suppress ion of proliferation of weapons of mass destruction and financing the same, 
as well as other relevant resolutions. Same shall be made through field visits, on -going 
follow -up, and imposition of appropriate administrative punishments in case of 
committing v iolations or failure to apply the instructions ; 
9. Verify that controlled institutions adopt and apply the controls, procedures and 
measures provided for under the provisions of the Decree -Law and this Resolution, 
and adopts the same in their foreign branches and subsidiaries wherein they hold the 
majority interest and to the extent permitted by laws of the countries wherein such 
branches and companies are located ; 
10. Ensure to what extent the financial institutions subject to the international basic 
prin ciples of financial control comply with the regulation and control consistently 
with such principles and including the application of aggregated control at the level of 
the financial group for the purpose of anti -money laundering, combating the 
financing o f terrorism and ensure, as regards the other financial institutions, to what 
extent they are subject to regulation and control or follow up consistently with the 
degree of risk of the money laundering or the financing of terrorism ; 
11. Review the financial institution's and group's crime -risks structure including non -
compliance risks. Same shall be made regularly or whenever there are significant 
developments in the financial institution's and group's management or transactions ; 
12. Establish adequate controls and procedures to ensure that the Financial Institutions, 
DNFBPs and VASPs are informed of, and apply, the Committee's decisions related to:  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  41 
 a. The measures of enhanced due diligence and the countermeasures determined by 
the Committee;  
b. Any fears rela ted to the weaknesses in the anti - Money Laundering and Terrorist 
Financing Combating Systems in the other states;  
c. Any other decisions issued by the Committee.  
13. Provide those who are subject to their control with instructions and feedback to 
enhance efficie ncy of implementation of crime combating measures ; 
14. Retain and inform the FIU of an updated list of controlled institutions compliance 
officers' names and data, and may obligate institutions to obtain the FIU's approval 
prior to appointment of compliance of ficers in said institutions ; 
15. Develop and organize programs and campaigns to raise awareness of crime 
combating;  
16. Issue decisions whereby administrative punishments are imposed pursuant to the 
provisions of the Decree -Law, this Resolutions, regulatory resolu tions and any other 
relevant resolutions and the mechanism of filing grievances against said decisions; 
and  
17. Maintain statistics about adopted measures and imposed punishments . 
 
Part Two  
Regulatory Body of Financial Institutions, Designated Non-Financial 
Businesses and Professions (DNFBPs), Virtual Asset Service Providers 
(VASPs)

Article (45)  
Regulatory Body  concerned with NPOs  shall:  
1. Obtain the information available with all entities concerned on NPOs' activities in a 
timely manner in order to identify their size, characteristics, kinds, threats posed by 
terrorism organizations against NPOs, potential risk exposure,  and abuse thereof in 
supporting and financing terrorism and i llegal organizations, and adopt and regularly 
review appropriate effective measures to confront the identified risks  to ensure their 
efficacy;  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  42 
 2. Review the appropriateness and adequacy of legislation pertaining to NPOs in order 
to prevent abuse thereof in su pporting and financing terrorism and illegal 
organizations, and work on improving said legislation  when necessary;  
3. Regularly assess NPOs through reviewing updated information on NPOs' potential 
weaknesses which would make them  exploitable in supporting and  financing 
terrorism and illegal organizations;  
4. Encourage and implement education and awareness raising programs in order to raise 
NPOs' and donors' awareness of their potential weaknesses which would expose 
them to the risks of abuse in supporting and fin ancing terroris m, and of the measures 
to be adopted by NPOs to protect themselves against such risks;  
5. Supervise and monitor NPOs using risk -based measures to prevent abuse thereof in 
supporting and financing terrorism, and to ensure fulfillment of their ob ligations;  
6. Cooperate, coordinate, and exchange information with local entities concerned 
maintaining information relevant to NPOs;  
7. Have the expertise in the field of  detections and the capacity to inspect NPOs 
suspected to be used in supporting and financing terrorism;  
8. Have full access to the information pertaining to the administration of any NPO 
including financial information and information about their programs;  
9. Establish the mechanisms ensuring immediate exchange of information with entities 
concerned with the aim to take preventive actions or investigations procedures in case 
of suspicion or presence of  reasonable reasons to suspect  that the NPO is:  
a. An interface for fundraising for a terrorism organization;  
b. Used as a channel to finance terrorism , evade freezing of moneys, or in any other 
form of terrorism support; or  
c. Hiding or concealing tracking of moneys allocated for legitimate purposes which 
are directed for use by terrorist or for terrorism support; and  
10. Identify appropriate points of contact  and necessary actions in response to 
international request to obtain information about NPOs suspected or is being used to 
finance or support terrorism.  
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  43 
 Chapter Six 
Temporary Measures and Investigations Procedures  
Part One  
Temporary Measures

Article (46)  
1. Either the Governor or the officer Acting on his behalf may order the freezing of funds 
of financial institutions licensed by the Central Bank for no more than (7) seven 
business days in case of suspecting its relation to a crime upon the FIU's request based 
on its analyses of  suspicious transactions reports and on other information obtained 
thereby;  
2. In case the decision aforementioned in Clause (1) of this Article  is made , the FIU shall:  
a. Notify the financial institution concerned to implem ent the freezing decision 
without prior notice to the owner of said funds; and  
b. Notify the Attorney General  if the Governor requests extension of the freezing , 
provided that such notice be accompanied by relevant reasons for required 
extension;  
3. After presen tation to the Governor, the FIU shall notify the financial institution 
concerned of revocation of the freezing in case that the Attorney General  refuses to 
extend the same or upon expiry of the period aforementioned in Clause ( 1) of  this 
Article without rec eiving a reply from the Attorney General ; 
4. Financial institution wherein funds are frozen shall notify owners of the funds frozen 
by virtue of a freezing order and the body  issuing the order, and shall request the 
owner to provide it with necessary documents to prove legitimacy of the resource of 
its funds, and shall refer said documents to the FIU for necessary action;  
5. The Governor shall submit a proposal to the Attorney General  proposing revocation 
of freezing extension in case of demise of the reasons thereof to take actions deemed 
appropriate; a nd 
6. Decisions to freeze funds with financial institutions licensed by the Central Bank may 
be implemented only by the Central Bank.  
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  44

Article (47)  
1. The Attorney General  and the competent court, as the case may be, may order 
specification, tracking, or assessm ent of suspected funds, proceeds, or  
instrumentalities  or a value equivalent thereto, or may order seizure or freezing 
thereof the same is generated form or related to the crime without prior notice to the 
owner of the same, and may order travel -prevention  until the end of investigations or 
of trial;  
2. The Attorney General  and the competent court, when necessary, may take decisions 
preventing transactions or disposal  of said funds, proceeds, or  instrumentalities , and 
may take necessary actions to prevent any kind of disposal  aiming to evade freezing 
orders or seizure orders issued in connection therewith without prejudice to bona fide 
third parties. ; 
3. Any stakeholder may file a grievance against the public prosecution order of freezing 
or seizure with the competent court of first instance having jurisdiction over the public 
prosecuting making said decision or the court competent to consider the criminal case ; 
4. The grievance shall by submitted by way of report  to the competent court, the chief 
justice of said court shall schedule a hearing the grievant shall be notified thereof to 
consider the grievance, and the public prosecution shall submit a memorandum of 
opinion thereon. The court shall decide on the griev ance within no more than (14) 
fourteen business days as of the date of submission thereof; and  
5. The decision concerning the grievance shall be irrevocable, that is, if the grievance is 
rejected, new grievance may not be submitted unless after passage of thr ee months as 
of the date of rejecting the first grievance, unless otherwise a serious reason emerges 
before passage of this period.

Article (48)  
The Attorney General  and the competent court, as the case may be, may appoint anyone 
deemed appropriate to manage the seized, froze, or confiscated funds, proceeds, or  
instrumentalities , and may permit disposal  or sale of the same by public auction even 
before rendering a jud gment in connection therewith out of fear of their damage or Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  45 
 devaluation thereof by time. Proceeds of sale shall be transferred to the State treasury in 
case of rendering a final judgment of conviction.  These funds shall remain carrying the  
legitimate  rights of bona fide  third -parties thereto within the limits of its valu e. 
 
Part Two  
Investigations Procedures

Article (49)  
1. Upon commencing investigations and collecting evidence  on the primary offence  
when necessary, the public prosecution and the law enforcement bodies shall  take 
into consideration the extent to which financial aspects of the criminal action is linked 
to the crimes of money laundry, financing terrorism, or financing illegal organizati ons, 
in order to define the scope of the crime, track proceeds and any other funds subject 
to confiscation, and enhance evidence  establishing the crime.  
2. The public prosecution may seek the opinion of the FIU on the notices submitted 
thereto on money laundr y, terrorism financing and illegal organizations financing.  
3. Law enforcement bodies shall receive and follow -up on the results of suspicious 
transactions reports analyses from the FIU and  shall collect all relevant evidence . 
4. The public prosecution and the l aw enforcement bodies shall quickly define, track and 
confiscate funds, proceeds and instrumentalities subject to confiscation and relevant 
to the crime.  
5. Law enforcement bodies may directly receive from the entities concerned the 
information deemed necessa ry for performance of their tasks in terms of detecting the 
crime or its perpetrator, and collecting relevant evidence  even if said information is 
subject to banking or professional confidentiality . The body  requested to provide 
information shall promptly execute  the request.  
 
 
 
 
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  46 
 Chapter Seven  
International Cooperation  
Part One  
General Provisions  on International Cooperation

Article (50)  
In the course of execution of the international cooperation request concerning the crime, 
the entities concerned may conclude, negotiate and execute agreements in a timely 
manner with counterpart foreign authorities provided that said agreements may not 
contradict the Statutes applicable  in the State.

Article (51)  
Entities concerned shall give priority to and promptly execute all international 
cooperation requests in criminal matters, particularly those pertaining to crime through 
apparent and secure mecha nisms and channels. Confidentiality of received information 
subject of the request shall be adhered to, if required, and in case of inability to maintain 
confidentiality, the requesting body shall be notified of the same .

Article (52)  
In implementation of the provisions of this the Decree -Law and this Resolution, 
international cooperation request may not be denied on any of the following grounds : 
1. The crime involves financial, tax, or customs issues ; 
2. Confidentiality provisions that are bind ing on Financial Institutions, DNFBPs, VASPs 
without violation of the statutes in force in the State unless relevant information is 
obtained under circumstances where legal professional privileges or professional 
confidentiality are applicable ; 
3. The crime i s political or related to political matters ; 
4. The request is relevant to a crime under detection or judicial investigations in progress 
in the State, unless the request would hinder such detections or investigations ; 
5. The act whereupon the request is based d oes not constitute a crime in the State or 
does not have common characteristics of a crime provided for therein, unless the Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  47 
 request contains coercive compulsory measures or is in accordance with the Statutes 
applicable in the State; and  
6. The criminal act in  the State is listed under a different title or description, or its 
elements are different in the requesting country . 
 
Part Two  
Information Exchange Between Entities Concerned and Counterpart 
Bodies

Article (53)  
Pursuant to applicable legislation and agreements in the State or on condition of 
reciprocity; the entities concerned may:  
1. Execute the requests received from any foreign body  and exchange crime -related 
information with counterpart foreign bodies  at an appropriate speed, and may obtain  
any other required information, either automatically or upon request, on behalf of 
said bodies  even if they are of a different  nature;  
2. Provide feedback to foreign bodies  upon their request  on the use of information 
receive d and the extent of utilization thereof ; 
3. Obtain an acknowledgement or undertaking from the counterpart foreign body  that 
the international cooperation information shall be used only for the purposes for 
which it is requested, unless said body  obtains a pri or consent therefrom;  
4. Use the international cooperation information received only for the purposes for 
which it is requested unless the foreign body  provides its approval to be used for other 
purposes; and  
5. Refuse the supply of information in case of inability of the foreign body  request ing the 
international cooperation to protect said information effectively.

Article (54) 
1. Entities concerned shall provide assistance the international cooperation concerning 
basic information o f companies, legal arrangements, and actual beneficiaries 
provided said cooperation shall include the following:  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  48 
 a. Facilitate access by foreign competent authorities to the basic information 
available in the companies' and legal arrangements' records;  
b. Exchange information about legal arrangements and companies' shareholders; 
and  
c. Use their powers to obtain actual beneficiary's information on behalf of the 
counterpart foreign bodies . 
2. Entities concerned shall provide supervision over implementation of int ernational 
cooperation operations received from other countries in connection with request to 
obtain basic information about companies, legal arrangements, and actual 
beneficiaries therefrom, and international cooperation requests concerning locating 
the p laces where actual beneficiary from the company is present outside the State.

Article (55)  
In accordance with the statutes in force in the State and the provisions of conventions 
whereto it is a party and on condition of reciprocity, financial institutions regulatory 
bodies may:  
1. Exchange the information retained thereby or available thereto, either directly or 
indirectly, about the crime with counterpart foreign bodies  regardless of the nature of 
said information and in accordance with the applicable Core Principles for Effective 
Banking Supervision  related to anti -money laundering and combating financing of 
terrorism, including the information pertaining to:  
a. Organizational framework of financial sectors and general information related 
there to; 
b. Preventive financial supervision measures including information relevant to 
financial institutions actions and businesses, the actual beneficiary therefrom, and 
management thereof, and competence and capability information; and  
c. Financial institutions i nternal policies on combating crime, customers due 
diligence information, and forms of information pertaining to accounts and 
transactions.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  49 
 2. Obtain the prior consent of the foreign regulatory body required to provide 
information to refer and use such inform ation for purposes other than those for which 
it is requested, and shall notify said foreign bodies in case of disclosure of this 
information whenever said disclosure is required by legal obligation; and  
3. Request or facilitate receipt of information on behalf of the foreign regulatory body 
for the purpose of enhancing control of the financial group.

Article (56)  
Without prejudice to the provisions of treaties and conventions to which the State is a 
party and on the condition of reciprocit y, law enforcement bodies, in coordination with 
the bodies  concerned, may:  
1. Exchange the information in their possession or which is available thereto, either 
directly or indirectly, with counterpart foreign for the purposes of detections and 
collection of crime -related evidence  and to identify and track proceeds and 
instrumentalities; and  
2. Use the powers vested therein pursuant to statutes in force in the State to make 
investigations, receive information on behalf of the counterpart foreign body , and 
coordinate to from dual or multiparty teamwork to perform joint investigations.  
 
Part  Three  
International Judicial Cooperation

Article (57)  
At the request of a judicial authority in a foreign country which is a party to a convention 
concluded with the State, or on condition of reciprocity in connection with acts 
punishable pursuant to the Statutes applicable in the State, the comp etent judicial 
authority may provide judicial assistance in crime -related investigations, trials or 
procedures, and may order as follows : 
1. Designate, freeze, seize or confiscate the funds, proceeds or other instrumentalities or 
equivalents which are generat ed from the crime wherein the same is used or 
attempted to be used, taking into account that anonymity or the exclusion of the Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  50 
 criminal responsibility of the accused or the abatement of the criminal proceedings 
shall not prevent taking these actions ; 
2. Adopt  any other procedures that can be applied subject to the statutes in force in the 
State including submission of the records kept by Financial Institutions, DNFBPs, 
VASPs or NPOs; search persons and buildings; take witness statements; collect 
evidence; and use investigation techniques such as undercover operations, 
communications interception, electronic data and information collection and 
controlled delivery; and  
3. Deliver and receive crime -related persons and objects in accordance with statutes in 
force in t he State .

Article (58)  
Any court judgment  or order on the confiscation of funds, proceeds, or instrumentalities 
pertaining to crimes of money laundering, financing of terrorism or financing of illegal 
organizations , which is rendered by any court or competent judicial authority in a country 
with which the State has entered a  ratified convention , may be recognized .

Article (59)  
In consideration of the legislation in force in the State, the enforcement of the court 
judgment  or order aforementioned in article (85) herein may not contradict any court 
judgment or order rendered previously in the State,  and there may be no current lawsuit 
involving  the same subject matter of the lawsuit in connection with which a ruling is 
rende red in the requesting country. The request shall include the following documents 
and information:  
1. A certified copy of the ruling or order of confiscation, the law on which the ruling or 
order is grounded, and the reasons for confiscation if not included in  the order or the 
ruling itself;  
2. A proof indicating that a Notice to Appear in Court was served upon the convict, and 
that the latter was duly represented and enabled to defend itself;  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  51 
 3. A document proving that the court order or judgment is enforceable and 
unchallengeable by ordinary methods;  
4. Description and estimation of  the value of funds, proceeds, and instrumentalities 
desired to be confiscated, the place where it may be present, and the information 
about any person who may retain or possess them;  
5. Statement of the amount desired to be recovered from among the funds req uired to 
be confiscated;  
6. Any information pertaining to others' rights to said funds, proceeds and 
instrumentalities; and  
7. A description of the actions taken by the requesting country to protect bona fide third 
parties.  
Part Four  
Implementation of Security Council Resolutions (UNSCR)

Article (60)  
Every natural or legal person shall immediately comply with the instructions made by the 
authority concerned in the State concerning the implementation of United Nations 
Security Council Resolutions (UNSCR) under Chapter 7 of the United Nations Charter for 
prevention and suppression of terrorism and the financing of terrorism, and to prevent 
proliferation and financing of mass destruction w eapons and other relevant resolutions . 
 
Chapter Eight  
Final Provisions

Article (61)  
Every provision that conflicts with or inconsistent with the provisions hereof  shall be 
repealed.  
 
 
 
 Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  52

Article (62)  
This Resolution shall enter into force as of the date of its issuance and shall be published 
in the Official Gazette.  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mohammed Bin Rashid Al Maktoum  
Prime Minister  
 
Issued by us on 22nd of Jumada Al -Awwal 1440 A.H.  
Corresponding to 28th of January 2019 A.D.  Cabinet Resolution of 2019 Concerning the Executive Regulations of Federal Law of 2018 on Anti -Money 
Laundering, Combating the Financing of Terrorism, and Illegal Organizations  53