Section 16: Anti-money laundering and countering the financing

Financial Institutions (Agent Banking) Regulations

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Consolidated text

of terrorism (1) A financial institution shall train its agents on anti-money laundering and combating of financing of terrorism requirements as provided for in the Anti-Money Laundering Act, 2013 and Anti- Terrorism Act, 2002. (2) A financial institution shall set limits for purposes of combating money laundering and terrorist financing. (3) The financial institution shall notify the Central Bank of the limits set under subregulation (2) or any revisions made on the limits. (4) For avoidance of doubt, the Central Bank reserves the right to direct a revision of any limits set under subregulation (2).

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