On 22 March, an article from Field Fisher starts by saying that, in the UK, as in other jurisdictions, Islamic finance transactions are not regulated differently from non-Islamic transactions for AML purposes. Existing UK legislation and regulations apply to Islamic finance as they would with any other finance structure or product; and international standards and guidance relating to financial crime is silent on the topic of Islamic financings. A paper produced by the firm looks at the fundamentals of Islamic finance, anti-money laundering considerations and the due diligence that participants need to undertake.
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