CmaBoardReleases
Title: Circular No. (13) of 2017 Regarding the obligations issued in article (7-7) of Module Sixteen “Anti- Money Laundering and Combating Financing of Terrorism” of the Executive Bylaws
Circular to All Licensed Persons
Chairman of the Board of Directors
Greetings,
With reference to the provisions of article (7-7) of Module Sixteen “Anti-Money Laundering and Combating Financing of Terrorism” of the Executive Bylaws and law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activity and their amendments, which states the following:
“A Licensed Person shall have an external Auditor carried out as prescribed by the
CMA. The external auditor shall report on the entity’s adherence to the Anti-Money
Laundering and Combating Financing of Terrorism Law and instructions issued by
The Authority relative on this matter, as well as the person’s adherence to its own
policies, procedures, systems and controls.”
We would like to draw your attention to the importance of complying with the provisions issued on the previously mentioned article, with the need to prepare the required report on an annual basis for the period from January 1st until December 31st every year, and submitting a copy of the report to the Authority by March 31 each year.
Mishaal M. Al-Usaimi
Issued on: 14/12/ 2017