1.3. Legal Basis

Effective from 31/10/2022

This Guidance builds upon the provisions of the following AML/CFT related laws and regulations:

	•	Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) and Financing Illegal Organisations as amended by Federal Decree Law No. (26) of 2021 (‘AML-CFT Law”);
	•	Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation for Federal Decree-Law No. (20) of 2018 on AML and CFT and Financing of Illegal Organisations, as amended by Cabinet Decision No. (24) of 2022 (“AML-CFT Decision”);
	•	Insurance Authority’s Board of Directors’ Decision No. (19) of 2020 Concerning the Guidance Manual for Insurance Companies and Related Professions to Submitting the Data, Information, & Supervisory Reports.