AML/CFT/CPF Policy Statement

Al Ghurair Exchange is committed to conducting its business responsibly and protecting its services from misuse for Money Laundering, Terrorist Financing, Proliferation Financing and related financial crime.

As a Licensed Exchange House regulated by the Central Bank of the UAE, we maintain an Anti-Money Laundering, Counter-Terrorist Financing and Counter-Proliferation Financing (AML/CFT/CPF) framework that reflects applicable UAE legal and regulatory requirements and the nature and risk profile of our business.

Our approach is built around the following key principles and controls.

Risk-Based Approach

We adopt a risk-based approach to identify, assess and mitigate ML/TF/PF risks associated with our customers, transactions, products and services, delivery channels and geographic exposure. Appropriate controls are applied based on the level of risk identified.

Customer Identification and Due Diligence

We conduct Know Your Customer (KYC) and Customer Due Diligence (CDD) to identify and verify our customers and, where applicable, beneficial owners and other relevant parties. We obtain sufficient information to understand the purpose of transactions and ensure that customer activity is consistent with their known profile.

Enhanced Due Diligence

Enhanced Due Diligence (EDD) is applied to higher-risk customers and transactions. Additional information and supporting documentation, including source of funds or source of wealth where applicable, may be obtained based on the identified risk.

Sanctions and Targeted Financial Sanctions

We maintain automated screening controls to screen customers and relevant transaction parties against applicable sanctions and Targeted Financial Sanctions lists, including the UNSC Consolidated List and UAE Local Terrorist List. Appropriate freezing, prohibition and reporting measures are taken where required by applicable regulations.

Transaction Monitoring

We conduct ongoing transaction monitoring to identify unusual or potentially suspicious transactions, patterns and behaviors. Transactions requiring further review are assessed and escalated to the Compliance Function where appropriate.

Suspicious Transaction Reporting

Employees are trained to identify and internally escalate unusual or suspicious activity. Where reporting is required, the Compliance Function submits the relevant report to the UAE Financial Intelligence Unit (FIU) through the prescribed reporting channels, while maintaining confidentiality and preventing tipping-off.

Record Keeping

Customer due diligence, transaction and relevant AML/CFT/CPF records are securely maintained for the period required under applicable UAE laws and regulations and are made available to competent authorities when lawfully required.

Governance and Independent Review

Our AML/CFT/CPF framework is supported by appropriate management oversight and an independent Compliance Function. The framework is periodically reviewed through internal audit, external independent review and regulatory examination, as applicable.

Staff Training

Employees receive AML/CFT/CPF training appropriate to their roles and responsibilities. Training is provided to all new employees within the prescribed timeframe and reinforced through periodic refresher and specialized training at least annually at a minimum.

Role-specific and specialised training is provided to relevant employees, including members of the Compliance Function, to ensure they remain appropriately informed of applicable legal and regulatory requirements, emerging risks and developments.

Our Commitment

Al Ghurair Exchange remains committed to maintaining effective AML/CFT/CPF controls, complying with applicable regulatory requirements and supporting the integrity of the UAE financial system.