MUSCAT – The directive applies to businesses involved in the trade of gold, jewellery, silver and gemstones, with the ministry urging establishments to immediately appoint a designated employee for compliance responsibilities.
The ministry said the move is part of efforts to ensure adherence to the requirements of the Anti-Money Laundering and Counter-Terrorism Financing Law and called on companies to submit the details of their appointed Compliance Officer through the designated official channel.
Authorities warned that failure to comply with the requirement may result in legal consequences.
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