Digital Currencies Trading
Affirm stated in our circular No. (125/5/9) on 3/29/2022 which it was decided to prevent the use of electronic cards and wallets for the purpose of speculation and trading in digital currencies of all kinds, with the necessity of the commitment of all licensed banks and all licensed non-bank financial institutions and all electronic payment companies with the following:1. Take all necessary administrative, legal and technical measures to prevent and track such types of transactions and trades.
2. Educating your clients about the risks and procedures that will be taken against them according to the laws and instructions in force related to these transactions and trades.
Otherwise, all strict legal measures taken towards institutions and customers in accordance with the Anti-Money Laundering and Terrorism Financing Law No. (39) Of 2015 and the instructions issued thereunder in the event of non-compliance with above.
