Step by Step Compliance Framework for UAE Institutions

Building a compliance framework for a UAE institution requires a structured, risk-based approach. Here is the Marensa methodology: Step 1: Regulatory Mapping — identify which regulators and regulations apply (CBUAE, DFSA, FSRA, VARA, SCA, Ministry of Economy for DNFBPs). Step 2: Business Risk Assessment (BRA) — document your inherent risks: customer types, products, geographies, delivery channels. Rate and record residual risk after controls. Step 3: Policy Architecture — design your AML/CFT policy suite: Customer Acceptance Policy, CDD/EDD Procedures, Transaction Monitoring Policy, SAR/STR Procedures, Sanctions Screening Policy, Staff Training Policy. Step 4: Governance — appoint your MLRO, establish board-level compliance reporting, set up the compliance committee structure. Step 5: Controls Implementation — deploy transaction monitoring, sanctions screening, CDD technology. Test controls before go-live. Step 6: Compliance Monitoring — establish an annual monitoring programme: file reviews, system testing, thematic reviews. Step 7: Training — all staff trained annually on AML/CFT. Enhanced training for customer-facing roles and senior management.