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  • Article Two:

    A new Article No. (11) bis shall be added to the Board of Directors Resolution No. (77/7/2013), as follows:

    • Article (11) bis: The Standards of the Regulations Regarding Licensing and Monitoring of Exchange Business "the Standards".

      The Central Bank shall issue the following Standards:

      1. Licensing and Continued Obligations Standards
      2. Management of the Business and Governance Standards
      3. Risk Management and Security Standards
      4. Anti-Money Laundering Compliance Standards
      5. Customer Protection Standards
      6. Appendices

      Appendix 1: Definitions

      Appendix 2: Applicable Laws, Regulations and Notices

      Appendix 3: List of Compulsory Reports and Forms

      Appendix 4: Non-Compliance Charges

      The Standards are an integral part of the Regulations Regarding Licensing and Monitoring of Exchange Business, and all Licensed Persons shall adhere to the provisions of the Standards once circulated and come into effect