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Article 7

No: M/20 Date(g): 25/10/2017 | Date(h): 5/2/1439

Effective from Oct 26 2017 - Nov 03 2017
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FIs and DNFBPs shall: 
 
 1-Apply due diligence measures to their customers and the Implementing Regulation shall set forth the instances in which such measures shall be taken and the types of measures to be taken.
 2-Determine the extent of due diligence measures based on the risks relation to a customer or business relationship. Where a higher risk of money laundering was identified, they shall apply enhanced due diligence measures.