AML Commitment

AML Commitment

Our commitment towards Anti-Money Laundering

We are committed to the highest standards of Anti-Money Laundering (AML) Compliance with not just the letter, but also the spirit of the law.

Through a risk-based approach, stringent controls, and proactive monitoring, National Bonds’ AML policy is designed to ensure compliance with the requirements and obligations set out by the UAE Federal Government, Capital Market Authority and other international standards such as Financial Action Task Force (FATF) and Wolfsburg Group Principles.

Our compliance programme

At National Bonds, we ensure strict adherence to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. Our specialised Compliance Team, comprising AML/CTF and Sanctions experts, continuously monitors transactions and client activities to detect and mitigate financial risks.

A Board Level Compliance Committee ("Committee") has been tasked by our Board of Directors to oversee implementation of National Bonds’ AML policy. In accordance with the requirements of Capital Market Authority, the Committee has designated a dedicated Money Laundering Reporting Officer (MLRO), who independently reports to the Committee and has the overall responsibility of maintaining AML Policies, Procedures and Systems effectively and thereby ensuring achievement of NBC's Compliance Obligations.

Adherence to our Compliance Program is the responsibility of every employee and our commitment towards Anti-Money Laundering (AML) efforts is supported and led by Board of Directors and Management. We believe that no customer relationship is worth compromising National Bonds’ AML policy towards combating money laundering.

We implemented a state-of-the-art automated system to assist in its efforts to combat money laundering and terrorist financing attempts. The automated system facilitates NBC in risk rating customers, watch-list filtering, configure transaction monitoring rules and facilitate resolution of alerts.