Regulatory & Supervisory Authorities

Independent or semi-independent supervisors oversee and enforce AML/CFT controls across financial institutions and DNFBPs, while the TFS authority ensures sanctions are implemented without delay. Both operate under a high-level national body that sets strategy, coordinates authorities, and oversees the NRA for consistent risk-based implementation.

Beneficial Ownership Authority (BO)

An official government or semi-government entity, typically operating under the Ministry of Commerce, the Ministry of Justice, or an investment authority, established under the Companies Law or the Anti-Money Laundering Law. It has an administrative, regulatory, and legal mandate, and represents a core pillar of transparency regarding ownership and control of legal entities.

NPO Supervisory Authority (NPOs) -in CTF Context

A formal government body established under the Associations Law, Civil Society Law, or Endowments (Waqf) Law. It is responsible for registering associations and overseeing their activities and funding. Its mandate is regulatory and supervisory in nature (including coordination), and it typically does not have judicial or investigative powers. However, it is accountable for monitoring the legality of establishing associations, their funding sources, and the lawful use of funds.