Decree No (17) of 2023 On Updates to the Compliance Committee in the Emirate of Ras Al Khaimah We, Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah Having perused the Federal Law No.20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism, And Law No.2 of 2017 on the Establishment of Ras Al Khaimah Economic Zones (RAKEZ), And Law No.4 of 2016 on the Department of Economic Development, And Emiri Decree No.31 of 2011 on the Establishment of the Investment and Development Office in Ras Al Khaimah, And Emiri Decree No 12 of 2022 on the Formation of a Compliance Committee in the Emirate of Ras Al Khaimah, And For the Public Interest, We decided as follows: Article 1: A Compliance Committee responsible for monitoring the compliance of Ras Al Khaimah Free zones, the Department of Economic Development, and the RAK Tourism Development Authority with applicable anti-money laundering, counter-terrorist financing and sanctions laws and regulations shall be constituted. Article 2: The Compliance Committee shall be chaired by an independent representative to be appointed by virtue of a decision issued by the board of directors of the Investment and Development Office, and membership of the following: 1 A representative of Ras Al Khaimah Economic Zone (RAKEZ). 2 A joint representative of RAK International Corporate Centre (RAKICC) and RAK Digital Assets Oasis (RAKDAO). 3 A representative of RAK Maritime City Free Zone Authority. 4 A representative of RAK Tourism Development Authority (RAKTDA). 5 Head of Compliance of Ras Al Khaimah Free zones; 6 Director General of the Department of Economic Development. 7 Head of the Legal Department of RAKEZ. 8 Head of Compliance of the Department of Economic Development. Article 3: The Compliance Committee shall prepare and adopt its charter. Article 4: The Compliance Committee shall hold its meetings upon request of the Head of the Compliance Committee as and when necessary, and shall issue its decisions by the majority of votes, however, in case votes are equal, the side with whom the Head of the Committee voted shall prevail. Article 5: All government entities must provide support to the Compliance Committee. Article 6: Any text in contradiction herewith shall be deemed null and void. Article 7: This Decree succeeds, supersedes and replaces Emiri Decree No 12 of 2022 on the Formation of a Compliance Committee in the Emirate of Ras Al Khaimah Article 8: This Decree shall take effect from the date of its issue and shall be published in the official gazette. Saud Bin Saqr Al Qasimi Ruler of Ras Al Khaimah Issued on 6th Rabi AlAwal of 1445 H. Corresponding to 21st September of 2023AD.