Non - Banking Financial

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The req. of Tech. structure & info. security systems for hosting providers

The Anti-money Laundering Law obligates authorities responsible for monitoring financial institutions to establish the necessary means to ensure the abidance of such institutions by the legally approved rules and regulations to combat money laundering. AML Executive Regulation stated a number of specific obligations for those regulatory authorities, among which is the Capital Market Authority (CMA) in its capacity as the market regulatory authority for all securities companies.

Anti-money Laundering Law:
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Go to Site Anti-Money Laundering Law on URL http://www.mfti.gov.eg

Anti-money Laundering Rules:
Therefore, the Capital Market Authority (CMA) has established anti-money laundering rules on the 27th of August 2008. A team of CMA experts had reviewed the most updated anti-money laundering rules and regulations issued by similar foreign supervisory authorities, they also reviewed anti-money laundering standards issued by international organizations such as Financial Action Task Force “FATF”, the International Organization of Securities Commissions “IOSCO” , and the World Bank. The main purpose of reviewing these rules, regulations, and standards was to issue highly efficient anti-money laundering rules for securities companies.

Anti-money Laundering Requirements:
FRA is committed to establish and provide the means necessary for ensuring that the Financial Institutions comply with rules and systems prescribed by the Law to combat money laundering. FRA’s obligations included setting regulations for the financial institutions subject to its supervision outlining policies and plans of combating money laundering and defining the identity and appoint a contact person to represent FRA at the Anti-Money Laundering Unit.

Periodical memo:
Periodical memo to be circulated to companies under FRA’s supervision (Available in Arabic)