Compliance

BOK International – UAE is an Islamic Foreign Bank Branch licensed and regulated by the Central Bank of the UAE under Banking License No. 13/1080/2017 dated 13 August 2017 and registered with the Abu Dhabi Department of Economic Development under Trade License No. CN-2300923. The Bank is located at Al Sahil Building, Zayed The First Street, Al Khalidiya, Abu Dhabi, United Arab Emirates.

BOK International – UAE has established an independent Compliance and Financial Crime Compliance Function to ensure that all banking operations, products, services, and business relationships are conducted in compliance with applicable laws, regulations, regulatory standards, and international best practices relating to Anti-Money Laundering (“AML”), Combating the Financing of Terrorism (“CFT”), Counter Proliferation Financing (“CPF”), sanctions compliance, and financial crime risk management.

The Compliance Function is responsible for overseeing and maintaining an effective compliance framework, including regulatory compliance, AML/CFT/CPF governance, customer due diligence (“CDD”), enhanced due diligence (“EDD”), transaction monitoring, sanctions screening, suspicious transaction reporting, financial crime risk assessments, regulatory reporting, staff awareness and training, and ongoing monitoring of financial crime risks.

The Bank is committed to conducting its business with the highest standards of integrity, transparency and accountability. The Compliance Policy reflects the Bank’s commitment to safeguarding the integrity of the financial system, protecting customers and stakeholders, and fulfilling all applicable legal and regulatory obligations within the United Arab Emirates and other relevant jurisdictions.

Applicable UAE Regulatory Framework

The Bank complies with all applicable laws, regulations, notices, guidance, standards, and directives issued by the Central Bank of the UAE and other competent authorities, including but not limited to:

  • Federal Decree-Law No. 10 of 2025 Regarding Combating Money Laundering, Combating the Financing of Terrorism and Financing of the Proliferation of Weapons.
  • Cabinet Resolution No. 134 of 2025 concerning the Executive Regulations of Federal Decree-Law No. 10 of 2025.
  • Federal Decree-Law No. (6) of 2025, Regarding the Central Bank, Regulation of Financial Institutions and Activities, and Insurance Business;
  • Cabinet Decision No. 74 of 2020 concerning Terrorism Lists Regulation and implementation of United Nations Security Council Resolutions relating to Counter Terrorism and Targeted Financial Sanctions.
  • Cabinet Decision No. (58) of 2020 regulating the Beneficial Owner Procedures.
  • All applicable UAE laws, directives, circulars, notices, and regulatory obligations issued by competent authorities from time to time.

These laws and regulations establish the legal and regulatory framework for the prevention, detection, management, and reporting of money laundering, terrorist financing, proliferation financing, sanctions violations, and other financial crimes. The framework further strengthens the UAE’s commitment to international standards, transparency, and the protection of the integrity of the financial system. The UAE is a member of the Gulf Cooperation Council (“GCC”) and the Middle East and North Africa Financial Action Task Force (“MENAFATF”). Accordingly, BOK International – UAE is committed to implementing internationally recognised standards, guidance, and best practices relating to AML/CFT/CPF and sanctions compliance.

International Standards and Best Practices

The Bank’s compliance and financial crime compliance framework is aligned with internationally recognised standards and guidance, including:

  • Recommendations and guidance issued by the Financial Action Task Force (“FATF”).
  • Guidance and principles issued by the Wolfsberg Group.
  • Basel Committee principles relating to banking supervision, governance, and compliance risk management.
  • Applicable United Nations Security Council Resolutions (“UNSCRs”) relating to targeted financial sanctions, counter terrorism financing, and proliferation financing.
  •  Correspondent banking and information-sharing requirements.

The Board, Senior Management, and all other staff of the Bank endeavor to maintain and follow the highest standards of ethics and professional conduct at all times while carrying out the Bank’s business activities. The Bank adopts a zero-tolerance approach toward money laundering, terrorist financing, proliferation financing, sanctions violations, or any other unlawful or unethical conduct and requires all employees and stakeholders to comply with the Bank’s policies, procedures, and regulatory obligations at all times.