Ministry of Commerce, Industry, and Investment Promotion: Ministerial Decision 621/2022 Issuing the Regulation on the Supervision of Accounting and Auditing Offices and Firms and Precious Metals and Valuable Gemstones Establishments and Firms regarding Anti-money Laundering and Counter-terrorist Financing

Arabic

Based on the Law Regulating the Accounting and Auditing Profession promulgated by Royal Decree 77/86,

the Law on the Control of Precious Metals promulgated by Royal Decree 109/2000,

the Law of Anti-money Laundering and Counter-terrorist Financing promulgated by Royal Decree 30/2016,

Royal Decree 97/2020 Amending the Name of the Ministry of Commerce and Industry to the Ministry of Commerce, Industry, and Investment Promotion, Determining Its Competences, and Adopting Its Organisational Structure,

the Regulation on the Procedures for Implementing the Security Council Resolutions Issued under Chapter VII of the Charter of the United Nations on the Prevention and Suppression of Terrorism and Its Financing and on the Prevention, Suppression, and Obstruction of the Proliferation of Weapons of Mass Destruction and Its Financing issued by Decision 1/2021,

and Ministerial Decision 198/2021 Issuing the Regulation on the Supervision of Accountants, Auditors, Accounting and Auditing Offices and Firms and Precious Metals and Valuable Gemstones Establishments and Firms regarding Anti-money Laundering and Counter-terrorist Financing,

it is hereby decided

Article I

The attached Regulation on the Supervision of Accounting and Auditing Offices and Firms and Precious Metals and Valuable Gemstones Establishments and Firms regarding Anti-money Laundering and Counter-terrorist Financing shall apply.

Article II

Accounting and auditing offices and firms and precious metals and valuable gemstones establishments and firms shall rectify their status in accordance with the provisions of the attached regulation within one month from the date of its entry into force.

Article III

The aforementioned decision 198/2021 is hereby repealed, as well as all that is contrary to the attached regulation or in conflict with its provisions.

Article IV

This decision shall be published in the Official Gazette, and comes into force on the day following the date of its publication.

Issued on: 28 Jumada Al-Awwal 1444
Corresponding to: 22 December 2022

Qais bin Mohammed bin Moosa Al-Yousef
Minister of Commerce, Industry, and Investment Promotion

Published in Official Gazette 1473 issued on 25 December 2022.