Regulatory Alerts2022-02-22
Added · Updated
Circular to Microfinance Companies Regarding Virtual Currencies and Money Laundering Reports
The Governor of the issuing authority attached copies of the Egmont Group report on virtual currencies and the MENAFATF report on money laundering through electronic channels for the review of microfinance companies operating in the Kingdom. The circular directs these entities to consider the contents of these reports where appropriate. No specific new obligations, thresholds, or effective dates are mandated within this text.