Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF) & Counter-Proliferation Financing (CPF) Policy – Summary

Al Jarwan Money Exchange is fully committed to combating Money Laundering (ML), Terrorist Financing (TF), and Proliferation Financing (PF) in accordance with the laws and regulations of the United Arab Emirates and international best practices. 

Our AML-CFT-CPF Policy has been developed in line with the requirements of the Central Bank of the UAE (CBUAE), the UAE Federal AML Law, and relevant international standards issued by FATF, the United Nations, and other global authorities. The policy establishes a robust framework to detect, prevent, and report suspicious activities and to safeguard the integrity of the UAE financial system.

Key Elements of the policy include:

• A risk-based approach to customer onboarding and transaction monitoring
• Strong Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) measures
• Ongoing sanctions screening, including Targeted Financial Sanctions (TFS) and daily delta screening
• Identification and reporting of Suspicious Transactions and Activities (STR/SAR) to the UAE Financial Intelligence Unit (FIU) via goAML
• Controls for high-risk customers, countries, PEPs, DNFBPs, cash-intensive businesses, and correspondent relationships
• Measures addressing trade-based money laundering, dual-use goods, and proliferation financing risks
• Clearly defined governance structure, including responsibilities of the Owner, Management, Compliance Officer, and Compliance Committee
• Comprehensive employee due diligence, training, and awareness programs
• Strict record retention and record destruction policies, aligned with regulatory requirements

The policy is reviewed and approved at least annually to ensure continued effectiveness and alignment with regulatory updates and emerging risks. Through the implementation of this policy, Al Jarwan Money Exchange reaffirms its commitment to transparency, regulatory compliance, and the protection of its customers and the wider financial system.