Accounting Guide

AML - (Dealers in Precious Metals and Stones)

AML – (Dealers in Precious Metals and Stones) Designated Non-Financial Businesses and Professionals (DNFBP)

UAE Federal Law No 20 of 2018 on Anti Money Laundering (AML) was introduced in the UAE for combating the financing terrorism and illegal organization. The law enforced responsibilities on DNFBP to tackle Money Laundering. DNFBP includes Broker and Real Estate Agent, Dealers in Precious Metal and precious stones, Legal professionals, Independent accountants and provider …

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Anti-Money Laundering (AML & CFT)

Anti Money Laundering – (Real Estate Agents and Brokers) Designated Non-Financial Businesses and Professionals (DNFBP)

UAE Federal Law No 20 of 2018 on Anti Money Laundering (AML) was introduced in the UAE for combating financing terrorism and illegal organization. The law enforced responsibilities on DNFBP to tackle Money Laundering. DNFBP includes Broker and Real Estate Agent, Dealers in Precious Metal and precious stones, Legal professionals, Independent accountants and provider of …

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Cash Against Document (CAD) Process, Documents, Benefits and Disadvantages

Cash Against Document (CAD) Process, Documents, Benefits & Disadvantages

What is Cash Again Documents (CAD) Cash Against Document is a payment method where the exporter ships the goods and sends the document representing the ownership of the goods to the importer’s bank through the banking system and where the delivery of the document to the importer is subject to the payment of the document …

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Letter of Credit (LC), LC Types, LC Process

Letter of Credit (LC), LC documents, LC fees Structure, LC Parties, LC Process, and LC Types Explanations

What is a Letter of Credit (LC) Letter of Credit is a Written Document issued by the Importer Bank on behalf of Importer Assures the seller will received his funds upon fulfillment of terms of the Trade A agreement. A guiding principle of an LC is that the issuing bank will make the payment based …

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