Regulatory Alerts2019-01-01
Board Decision No. 130 of 2019 on Supervisory Controls for Combating Money Laundering and Terrorist Financing for Entities in Non-Banking Financial Activities
The Egyptian Financial Regulatory Authority issued Board Decision No. 130 of 2019 to mandate comprehensive anti-money laundering and counter-terrorist financing controls for the Egyptian Exchange, licensed financial institutions, and authorized natural persons operating in non-banking financial activities. The decision establishes a risk-based framework requiring entities to implement robust internal controls, conduct thorough customer due diligence, maintain detailed operational manuals, and apply enhanced oversight to subsidiaries and branches abroad. It further defines key regulatory terms, outlines core compliance principles, and aligns domestic supervisory standards with existing Egyptian AML/CFT legislation.
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