Title: Circular No. (18) of 2023 Regarding the Annual Report on Anti-Money Laundering and Combating Financing of Terrorism

"Circular to All Licensed Persons"

Chairman of the Board of Directors

Greetings,

The CMA would like to draw your attention to the provision of Article (7-5) of Module Sixteen (Anti-Money Laundering and Combating Financing of Terrorism) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, concerning the importance of preparing an annual report by the compliance officer and submitting it to the board of directors of the licensed person, provided that it includes all actions taken to implement the internal policies, procedures and controls and any proposals for increasing the effectiveness and efficiency of such procedures. A copy of the report shall be submitted to the CMA.

Therefore, you are kindly requested to comply with the above mentioned provision and submit a copy of the required report approved by the board of directors to the CMA starting from January 1st until March 1st every year, according to the form of the annual report on Anti-Money Laundering and Combating Financing of Terrorism included with the number of requirements of the On-site Supervision Department on CMA's electronic portal. You shall also attach a copy of "Know Your Client (KYC)" forms of the new foreign clients (non-residents) in the field designated for such purpose in the above-mentioned annual report form that you send through CMA's electronic portal.  

Prof. Ahmad A. Al-Melhem
Issued on: 28/12/2023

Copy of the Official Document