Date: 31st December 2019
Dear Valued Customers,
The Ministry of Economy of the United Arab Emirates (UAE) has developed Guidelines related to Designated Non-Financial Businesses and Professions (DNFBP) to provide companies that are conducting DNFBP activities with assistance in better understanding their statutory obligations under Cabinet Decision No. 10 of 2019 Concerning the Implementing Regulation of Federal Decree Law No. 20 of 2018 On Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations.
Accordingly, the companies licensed by Dubai Aviation City Corporation, which conduct DNFBP activities, are recommended to adhere to the following Guidelines (the following Guidelines are not to be construed as legal advice):
- Guideline applicable to all DNFBPs: Guidelines for Designated Non-Financial Businesses and Professions.
In addition, the following will be applicable to the following specific DNFBP activities:
- Additional guideline applicable to Auditors: Supplementary Guidance for Auditors.
- Additional guideli...