We are committed to prevent money laundering. To achieve this, the company’s policies and procedures are designed to comply with the laws of the Central Bank of the UAE and other major international organizations to fight money laundering and terrorism funding. Also, we have implemented the best AML policies and practices throughout our organization.
Our state-of-the-art AML-compliant software enable us to fulfill the requirements of the local and international laws relating to KYC principles. We also continually monitor and adhere to the Anti-Money Laundering requirements by providing our foreign correspondent banks and agents due diligence information on transactions in line with the guidelines and recommendations of the FATF as and when required.
Al Ghurair Exchange will support its staff to achieve the highest standards of compliance integrity. Our employees must be aware of both the company’s commitment to prevent money laundering and their responsibilities under the policies administered by Al Ghurair Exchange L.L.P.
Our policy will provide all employees of Al Ghurair Exchange with an understanding of money laundering and the extent to which the world legislates against it. Internal disciplinary procedures will be enforced if any employee fails to implement or adhere to the company’s policy. There is no excuse for ignorance.
At Al Ghurair Exchange, we consider AML Compliance and Countering Terrorist Financing more of a moral responsibility rather than a job-oriented one.
In line with Central Bank of the UAE guidelines is committed to fight money laundering and counter terrorist financing of any form. In relevance to this, we have implemented strong and vigilant controls across all our branches of operation. We use the most advanced and state of the art technology which enables us in attaining this objective.
Al Ghurair Exchange is firmly committed to implementing and following Central Bank of the UAE guidelines at all times.
All individual customers are subjected to screening at the time of on-boarding against the Sanctions lists and also during every transaction and update made to their respective profiles. Customers are identified by the acceptable IDs as specified in the CBUAE standards.
All Corporate customers are subjected to intense screening as part of our Enhanced Due Diligence (EDD) process before on-boarding. All evidences related to the transaction are secured before processing the same.
All our correspondent partners are subject to Enhanced Due Diligence measures and deep-drilling to ascertain that they are of proper legal standing before entering into relationships.