COMPLIANCE & REGULATIONS
COMPLIANCE
Compliance at WASA Management Services Limited in international trade involves strict adherence to the laws, regulations, and standards that govern the movement of goods and services across international borders. Our commitment to compliance encompasses a range of crucial elements, ensuring that all activities align with both local and global legal frameworks.
Key areas of compliance include:
- International Agreements and Regulations: We ensure that all trade activities respect global agreements and conventions, including the rules established by the International Chamber of Commerce (ICC) and other international trade bodies.
- Local and Foreign Laws: WASA adheres to the laws of both the exporting and importing countries, ensuring that all transactions meet the specific legal requirements of the jurisdictions involved.
- Industry-Specific Regulations: Our team ensures that we comply with sector-specific rules, whether related to non-ferrous products, carbon credits, or other commodities.
- Legal Procedures and Ethical Standards: We maintain the highest standards of ethics and integrity, working to avoid illegal activities such as smuggling, fraud, or violations of trade sanctions. This includes ensuring that all parties - exporters, importers, freight forwarders, and banking institutions—follow proper legal procedures.
- Documentation and Due Diligence: We conduct thorough documentation processes and due diligence, including enhanced due diligence (EDD), to verify the legitimacy of trade transactions, identify risks, and prevent illegal activities such as money laundering or financing of terrorism (AML/CFT).
- Customs Procedures and Tariffs: We ensure that all goods comply with relevant customs procedures, tariff regulations, port taxes and export controls to prevent delays and ensure smooth trade flows.
- Export Controls and Trade Sanctions: WASA carefully navigates export control laws and trade sanctions, ensuring that all transactions comply with restrictions on certain goods, countries, or entities.
By rigorously adhering to these compliance standards, WASA ensures that all international trade activities are carried out legally, ethically, and securely, safeguarding the interests of all stakeholders involved and promoting sustainable global trade practices.
Anti-Money Laundering / Countering The Financing Of Terrorism (AML/CFT)
At WASA Management Services Limited, we implement strict Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) measures to ensure transparency, accountability, and compliance with international standards. Given the nature of our business activities and the licenses we hold across multiple jurisdictions, we prioritise safeguarding against illicit financial activities and maintaining the integrity of our trade operations.
As part of our comprehensive compliance approach, we conduct World-Checks & Enhanced Due Diligence (EDD) on all of our clients. These processes are designed to identify potential risks, including links to money laundering, terrorist financing, and other financial crimes. By conducting these thorough checks, we ensure that all transactions adhere to global legal requirements and uphold the highest ethical standards, mitigating potential risks to our clients and the broader trade environment.
Through these robust AML/CFT measures, at WASA we demonstrates our commitment to responsible business practices, promoting secure, transparent, and compliant international trade.
REGULATORY LICENSES
At WASA Management Services Limited, through our group and affiliated entities, we hold key licenses that reflect our strong commitment to regulatory compliance and industry standards.
- Investment Holding Company License: Regulated by the Financial Services Commission, this license ensures that our operations adhere to the highest standards of financial regulation and oversight. It reflects our integrity in managing group holdings and conducting business activities in full compliance with regulatory frameworks.
- Commodities Trading License: For the past three years, we have held a Commodities Trading License issued by the Dubai Multi Commodities Centre (DMCC), one of the most reputable and globally recognised authorities in the commodities trading industry. This license further affirms our expertise and standing in the international commodities marketplace.
These licenses not only reflect our adherence to regulatory requirements but also underscore our dedication to maintaining transparency, ethical practices, and a strong reputation in the global business and trade sectors. With these credentials, at WASA we are well-positioned to offer high-quality services that meet the regulatory standards of the jurisdictions in which we operate.