1.3 Legal Basis
Effective from 15/8/2021This Guidance builds upon the provisions of the following laws and regulations:
| • | Decree Federal Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations (``AML-CFT Law''). | |||||
| • | Cabinet Decision No. (10) of 2019 concerning the Implementing Regulation of Decree Federal Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations (``AML-CFT Decision''). | |||||
| • | Cabinet Decision No. (74) of 2020 Regarding Terrorism Lists Regulation and Implementation of United Nations Security Council (UNSC) Resolutions on the Suppression and Combating of Terrorism, Terrorists Financing & Proliferation of Weapons of Mass Destruction, and Related Resolutions (``Cabinet Decision 74''). | |||||
| • | Registered Hawala Providers Regulation issued by the CBUAE (``Circular No. 24/2019''). | |||||
Under Articles 4 and 5 of Circular No. 24/2019, RHP and their customers and agents must strictly abide by all UAE laws, including civil laws, Commercial Companies' Law, federal laws on AML/CFT, and any Regulations and directions issued by the CBUAE (``the legal and regulatory framework in the UAE''). RHP may be guided by the FATF standards on AML/CFT and Proliferation and must abide by guidance issued by the CBUAE in this regard.