By virtue of the provisions of this Decree by Law, a committee shall be established and shall be known as the “Higher Committee for the Supervision of the National Strategy for Anti-Money Laundering and Combating the Financing of Terrorism, and Proliferation Financing ”, affiliated with the Presidential Court, and its formation and rules of procedure shall be determined by a resolution issued by the Cabinet. The Committee shall exercise the following competences: 1. To study, monitor, and evaluate the effectiveness of the strategies and measures adopted by the National Committee, and to issue recommendations and decisions thereon. 2. To determine the requirements to be followed and fulfilled by the National Committee and the Concerned Authorities in the performance of their duties, to issue the appropriate resolutions in that regard, and to supervise and monitor the implementation thereof. 3. To coordinate with and direct the Concerned Authorities to provide the necessary support to the National Committee in order to facilitate the performance and execution of its duties. 4. To issue decisions concerning the supervision of the Mutual Evaluation Process of the State with respect to combating Money Laundering, Financing of Terrorism, and Proliferation Financing. 5. To propose draft laws relating to its functions and those of the National Committee, and to propose amendments to existing relevant legislation and submit the same to the Cabinet. 6. To propose the required financial allocations for the federal entities concerned for implementing the national strategy for combating the Crime, following coordination with the Ministry, for submission to the Cabinet for approval within the Federal General Budget. 7. Any other competences and tasks determined by the Cabinet. The Cabinet may delegate the Chairman of the Higher Committee to issue its rules of procedure.
Interpretation and application must be checked against the official text and current version.