Having reviewed the Constitution;

Federal Law No. (1) of 1972 on the Competences of the Ministries and the Powers of the Ministers, as amended; Federal Law by Decree No. (20) of 2018 concerning Combating Money Laundering and the Financing of Terrorism,
and Financing of Illegal Organisations, as amended,
Based on the proposal of the Minister of Finance and the Approval of the Cabinet.
 

Have promulgated the following Law by Decree:

Article 1

The provision of Article (11) of the aforementioned Law No. (20) of 2018 shall be replaced by the following:

Article (11)
Pursuant to the provisions of this Law by Decree, a Committee shall be established, headed by the Governor, called the "National Committee for Combating Money Laundering, Terrorism Financing and Financing of Illegal Organisations." A resolution to form it shall be issued by the Cabinet based on a proposal from the Minister of Finance.

Article 2

Two new Articles numbered (12) bis (1) and (12) bis (2) shall be added to the Articles of Federal Law by Decree No. (20) of 2018 referred to, and their text shall be as follows:
 

Article (12 bis 1):

Pursuant to the provisions of this Law by Decree, a Committee called the "Supreme Committee for Supervising the National Strategy to Combat Money Laundering and Terrorism Financing" shall be established and shall be affiliated with the Presidency. A resolution shall be issued by the Cabinet regarding its formation and work law.
This Committee shall exercise the following powers:

1. Review, monitor and assess the effectiveness of the strategies and procedures followed by the National Committee for Combating Money Laundering, Terrorism Financing and Financing of Illegal Organisations, and make recommendations and issue resolutions regarding them.
 

2. Determine the requirements that must be followed and met by the National Committee and the Relevant Authorities in the course of performing their duties, issue appropriate resolutions regarding them, and supervise and monitor their implementation.
 

3. Coordinate with the Relevant Authorities and directing them to provide the necessary support to the National Committee to facilitate the performance and implementation of its tasks.
 

4. Supervise the mutual assessment process of the State to measure its commitment to international standards for combating money laundering and terrorist financing, follow up on their implementation, and issue recommendations and resolutions regarding them.
 

5. Propose draft laws related to the work and tasks of the Supreme Committee and the National Committee, propose amendments to relevant existing legislation, and submit them to the Cabinet.
 

6. Propose the financial allocations required for the federal agencies concerned with implementing the National Strategy to Combat Money Laundering and Terrorism Financing, and submit them to the Cabinet for approval based on the presentation of the Minister of Finance.
 

7. Any other powers and duties determined by the Cabinet. 
 

The Cabinet may authorise the Chairman of the Supreme Committee to issue the Supreme Committee work system. 
 

Article (12) bis (2):

1. The National Committee for Anti-Money Laundering, Combating the Financing of Terrorism and Finaneing of Illegal Organisations.
 

2. The General Secretariat shall be headed by a Secretary-General and a number of employees.
 

3. The Secretary-General shall be the Deputy Chairman of the National Committee and a member of the Supreme Committee stipulated in Article (12) bis (1) of this Law by Decree, and his appointment shall be issued by a resolution of the Cabinet.
 

4. The General Secretariat regulations, organisational structure, definition of its powers, work system, and financial and administrative regulations shall be issued by a resolution of the Chairman of the Supreme Committee stipulated in Article (12) bis (1) of this Law by Decree, based on the proposal of the Chairman of the National Committee. The Chairman of the Supreme Committee may authorise the Chairman of the National Committee to issue all or some of these resolutions. In all cases, the Chairman of the National Committee may amend the Organisational structure of the General Secretariat below the level of departments.
 

Article 3

The Supreme Committee for Supervising the Natiol Strategy for Combating Money Laundering and Combating the Financing of Terrorism, formed prior to the issuance of this Law by Decree pursuant to a Cabinet resolution, as well as the National Committee for Combating Money Laundering and Combating the Financing of Terrorism and the Financing of Illegal Organisations, formed pursuant to a resolution by the Minister of Finance, shall continue to exercise their duties and powers. The resolutions in force in these two Committees shall continue to be in effect, to the extent that they do not conflict with the provisions of this Law by Decree, and until a replacement is issued.

Article 4

This Law by Decree shall be published in the Official Gazette, and shall come into effect from the day following the date of its publication.