Ministry of Commerce and Industry has announced that Anti Money Laundering Operations & Terrorism Financing Department carried out precautionary measures against violating companies on September 30, reports Annahar daily.
In press statement, the ministry explained that these measures included a written warning to 17 real-estate companies, four jewelry companies and some insurance companies, and issuance of an order to oblige ten real-estate companies, four jewelry companies and five money exchange bureaus as well as four insurance companies to follow specified procedures to abide by the law.
The department completed its procedures before the specialized departments of the ministry carried out licensing procedures in the same month for 112 establishment requests from 80 real-estate companies, a money exchange bureau, 26 jewelry companies and five insurance companies.
The department updated the data of 77 licenses distributed to 55 realestate companies, 20 jewelry companies, a money exchange office and an insurance company.
Source : Arab Times0