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NEWS: UAE Central Bank issues new guidelines on AML/CFT; Governor says regulator is committed to ‘implementing high regulatory control’ over LFIs

By Alisha Houlihan for AMLi

The United Arab Emirates’ Central Bank has issued a new set of guidelines on anti-money laundering, aimed at assisting licensed financial institutions (LFIs) in tackling money laundering and terrorist financing.

In a statement, the Central Bank affirmed that LFIs would be obliged to develop internal policies, controls and procedures to mitigate AML/CFT risks, and would be required to demonstrate compliance with all requirements within one month. 

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