The Presidents/Chief Executive Officers
All Microfinance Banks (MFBs)
Amendments in Anti-Money Laundering and Combating the Financing of Terrorism
(AML/CFT) Regulations for Microfinance Banks
Please refer to the instructions issued vide AC&MFD Circular No. 02 dated October 05, 2018 to mitigate various risks arising from money laundering and financing of terrorism.
2. In order to further align AML/CFT Regulations for Microfinance Banks with the Financial Action Task Force (FATF) Recommendations, various provisions of the Regulations are being amendments. These amendments, as per attached Annexure, will provide further clarity on implementation of AML/CFT requirements by MFBs. The updated version of the ‘Regulations’ is also enclosed.
3. All other instructions on the subject shall remain unchanged.
4. Please acknowledge receipt.
Annexure – A
Revised AML/CFT Regulations