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B&CO — Baqi, Al Balushi & Co (Law Firm)
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Specialized Sectors

Compliance and Anti-Money Laundering (AML)

With the expansion of financial and digital activities and the increasing regulatory scrutiny both locally and internationally, compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations has become a top priority for financial, legal, real estate, and commercial institutions. In the Sultanate of Oman, these activities fall under the direct supervision of the Financial Intelligence Unit, the Capital Market Authority, the Central Bank, and other competent regulatory bodies.

At B&Co, we provide specialized legal services to regulated entities and assist them in establishing robust legal compliance frameworks that protect against administrative sanctions and criminal penalties. Our services include designing tailored due diligence procedures, risk management frameworks, and employee training programs.

Services

Scope of services

Our scope of services in this sector includes, but is not limited to:

  • Drafting internal compliance policies and procedures (KYC / AML Policies).
  • Reviewing client contracts and relationships from an AML compliance perspective.
  • Advising legal, financial, and real estate entities subject to AML regulations.
  • Analyzing potential legal and financial risks related to business activities.
  • Conducting legal training for staff on reporting mechanisms, disclosure obligations, and dealing with regulatory authorities.
  • Representing institutions before the Financial Intelligence Unit during investigations or audits.
  • Assisting in the implementation of the Omani Anti-Money Laundering and Counter-Terrorism Financing Law and its amendments.
  • Litigating cases involving financial compliance violations or reporting failures.

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