Anti-Money Laundering Law

1- FIs and DNFBPs shall: A- Have in place and effectively implement internal policies, procedures and controls against money laundering aimed at managing and mitigating any risks identified as clarified in Article 5. The policies, procedures and controls shall be proportionate to the nature and size of the FI and DNFBP’s business and shall be approved by senior management. FI and DNFBP shall review and enhance them as needed. B- Apply its internal policies, procedures and controls said in (A) of this Article, to all of its branches and majority-owned subsidiaries. 2- The Implementing Regulation shall specify the matters that must be addressed in the internal policies, procedures and controls under (1/A) in this Article for Anti-Money Laundering.