Regulatory Compliance
The Arab Energy Fund was established through a multilateral agreement between the governments of ten Member Countries of the Organization of Arab Petroleum Exporting Countries (OAPEC).
Governance and Compliance Framework
Our compliance framework is built on sound governance, approved and regularly reviewed by our Board of Directors. In 2024, we revised compliance protocols to introduce analytical tools for early detection of non-compliance risks, supported by the reorganization of board committees into four specialized areas providing enhanced oversight.
Key governance documents are continually updated to reflect our transformation agenda, while maintaining alignment with our founding mandate and multilateral obligations. We conduct regular internal audits supported by globally recognized external audit partners, benchmarking our practices against leading financial institutions.
Compliance, ethics and AML/CFT
Due to the nature of our business activities, which include Corporate Banking, Trade Finance, Equity Investments, and Treasury & Capital Markets, we do not deal with individual retail customers or conduct cash transactions. Our client base consists exclusively of corporate, institutional, and sovereign entities, with comprehensive Know Your Customer (KYC) procedures applied to all counterparties.
We maintain stringent AML/CFT protocols that meet or exceed requirements under both FATF commitments and standards. Our transaction monitoring systems utilise advanced analytics to identify and investigate suspicious activities, with clear escalation procedures in place to ensure appropriate board-level oversight of compliance matters.
KYC and Forms
Know Your Customer (KYC) procedures are central to our due diligence framework. All clients and counterparties undergo comprehensive verification aligned with international AML/CFT standards before engagement.
For general compliance inquiries, policy documentation, or to report concerns through our confidential reporting channels, please contact our Public Relations and Communication team.
Commitment to International Standards
Five of our Member Countries are from the Gulf Cooperation Council (GCC) – a full member of the Financial Action Task Force (FATF). As a FATF Member, the GCC is committed to implementing Anti-Money Laundering and Counter-Terrorist Financing measures aligned with FATF Recommendations. Our remaining Member Countries are part of the Middle East and North Africa Financial Action Task Force that sets its own regulations and procedures while cooperating with international bodies.
We operate under a Central Bank of Bahrain Banking License, subjecting our Manama branch to regulatory supervision.
Our governance framework combines our multilateral status with adherence to international compliance standards, ensuring we maintain the highest levels of integrity across all jurisdictions where we operate.
We comply fully with international sanctions regimes and do not conduct business with sanctioned entities or in prohibited jurisdictions. Our sanctions screening processes are continuously updated to reflect evolving regulatory requirements.
Data Protection
We safeguard confidential information through robust cybersecurity measures and access controls, with data protection policies aligned with international best practices. Regular audits and penetration testing ensure our systems remain resilient against evolving threats.
For data protection inquiries or to exercise your data rights, contact our Risk and Compliance Department at pdpl@taef.org