Regulatory Alerts2025-11-07
Best Practices for Licensed Financial Institutions on Implementing Role-Based AML/CFT/CPF Training
The Central Bank of the United Arab Emirates (CBUAE) has issued best practices requiring licensed financial institutions and registered hawala providers to implement risk-based, role-specific anti-money laundering, combating the financing of terrorism, and countering proliferation financing training programs. The guidance mandates that training content be tailored to the specific responsibilities, risk exposure, and operational context of distinct organizational roles, including the Board, senior management, and all three lines of defense, while incorporating UAE regulatory frameworks, international standards, and institution-specific products and geographies. Institutions must conduct annual training needs assessments, maintain comprehensive documentation of delivery methods and employee comprehension, and achieve full compliance within one month of the document's issuance.