Regulatory Alerts2022-07-03
Added · Updated
Instructions No. 4 of 2022 (Amending Anti-Money Laundering and Counter-Terrorist Financing Instructions No. 2 of 2016)
Article 15 of the original Anti-Money Laundering and Counter-Terrorist Financing Instructions is amended to require insurance companies to notify the relevant unit and the Central Bank of any changes to the names of the Reporting Officer or their deputy. The amendment mandates that both individuals must possess appropriate qualifications and obtain the Central Bank's non-objection regarding their appointment or termination of services. These changes apply to insurance companies and become effective upon publication in the Official Gazette.
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