The National Committee shall be competent for the following: 1. To establish and develop a National Strategy for combating the Crime, and to establish related regulations, procedures, and policies in coordination with the Concerned Authorities, and to follow up on their implementation. 2. To identify and assess the risks of the Crime at the national level. 3. To coordinate with the Concerned Authorities and refer to the relevant international information sources to identify high-risk countries and those suffering deficiencies in their regulations for combating Money Laundering, Financing of Terrorism, and Proliferation Financing, and to determine the countermeasures and other appropriate measures commensurate with the degree of risk, and to direct the Supervisory Authorities to verify the compliance of Financial Institutions, Designated Non-Financial Businesses and Professions, Virtual Asset Service Providers, and Non-Profit Organizations with the application thereof, without obstructing or delaying their legitimate and charitable activities. 4. To coordinate among the represented entities to enhance the effectiveness of combating the Crime, and to facilitate operational cooperation and the timely exchange of information, whether automatically or upon request. 5. To assess the effectiveness of the national regulations for combating Money Laundering, Financing of Terrorism, and Proliferation Financing by collecting and analyzing statistics and other relevant information from the Concerned Authorities. 6. To monitor the Mutual Evaluation Process of the State to measure the extent of its compliance with the international standards for combating Money Laundering, Financing of Terrorism, and Proliferation Financing, and to submit proposals and recommendations to the Higher Committee, and to implement the resolutions issued thereunder. 7. To represent the State in international fora related to combating Money Laundering, Financing of Terrorism, and Proliferation Financing. 8. To propose the organizational regulation governing its operations, and to submit the same to the Minister for approval. 9. To consider any matters referred thereto by the Concerned Authorities within the State. 10. Any other competences may be determined by the Executive Regulations of this Decree by Law.
Interpretation and application must be checked against the official text and current version.