1.2 Applicability
Effective from 13/7/2023Unless otherwise noted, these Guidelines apply to all Financial Institutions, and the members of their boards of directors, management and employees, established and/or operating in the territory of the UAE and their respective Financial and Commercial Free Zones, whether they establish or maintain a Business Relationship with a Customer, or engage in any of the financial activities and/or transactions or the trade and/or business activities outlined in Articles (2) and (3) of Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation of Decree Law No. (20) of 2018 On Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations.
Specifically, they are applicable to all such natural and legal persons in the following categories:
| • | Banks, finance companies, exchange houses, money service businesses (including hawaladar or other monetary value transfer services); |
| • | Insurance companies, agencies, and brokers; |
| • | Securities and commodities brokers, dealers, advisors, investment managers; |
| • | Virtual asset service providers (VASPs); |
| • | Other financial institutions not mentioned above. |