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EBA Opens Public Consultation On AML/CFT Standards For Crypto-Asset Service Providers

The European Banking Authority (EBA) has initiated a public consultation on draft Regulatory Technical Standards (RTS) aimed at defining the criteria for when crypto-asset service providers (CASPs) should appoint a central contact point to ensure compliance with the anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements of host EU member states.

This development stems from amendments made to Article 45(9) of Directive (EU) 2015/849 on 9 June 2023, which extended the scope of existing regulations to include CASPs. Previously, such standards applied only to payment service providers (PSPs) and electronic money institutions (EMIs), as per the original 2018 regulation.

The updated draft RTS, intended to revise the Commission Delegated Regulation (EU) 2018/1108, addresses situations where CASPs operate in member states without establishing branches. Even in these cases, CASPs are required to adhere to local AML/CFT obligations, regardless of whether their local establishments are categorized as ‘obliged entities.’

“The draft RTS specifies the circumstances under which appointing a central contact point is necessary and outlines the responsibilities of such contact points,” the Cyprus Securities and Exchange Commission (CySEC) stated in a press release signed by Chairman Dr George Theocharides.

Stakeholders are encouraged to provide feedback by submitting comments through the EBA consultation page. The deadline for responses is 4 February 2025, and all contributions will be published by the EBA unless confidentiality is requested.

Dr. Theocharides urged regulated entities to participate in the consultation, emphasizing the importance of shaping standards that ensure effective compliance across the EU’s crypto landscape.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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