|Consulting Services

Establish and document general policies of the organization.

SHAFAF provides its consultation services via establishing and documenting general policies of the organization through conducting meetings with the related management  team in the organization, to identify the nature of functions, documents and compare them  with organization goals and strategies, in order to organize related functions within  the organization, according to clear frameworks. Since policies constitute the internal framework   of any given organization, since they  are totally reflected on its activity . Through these written policies, which are approved by the competent authority within the organization to be considered essential , its clients and all regulators and competent authorities concerned with organizing work in a comprehensive manner. SHAFAF services include establishing these policies or reviewing the existing policies and reproducing them  in a professional manner to meet the expectations of our partners, clients and all customers of the organization

Establish various detailed internal work procedures of the organization.

SHAFAF provides consultation services  by establishing different detailed internal work processes of the organization by documenting all different work processes in the organization and related work flow for a given function.

Engineering, linking and integration of all organization policies and procedures into a unified operational guide.

Upon completion of the process of establishing policies and procedures, such policies and procedures shall be gathered and unified , in a sequential  manner, for all organization business, in order to conduct its evaluation, risk assessment and develop them for the  decision makers in the organization. Finalizing such policies and procedures and ensure avoiding any potential conflicts  between these strategies or regulations an any work, and the existence of bilateral control and other important control functions.

Establish different regulations of specialized committees, to define its scope of work, responsibilities and operation mechanism.

Establish and develop regulations governing the work of committees, including the main elements of any committee, e.g. timeframe, frequency of meetings, objective, responsibilities, members, level of independence and other elements stemming from corporate governance principles and control elements.

Drafting  job descriptions for each employee in the organization, to define responsibilities, duties and work procedures.

Establish job description for each job in the organization after coordination and completing all related procedures and information and share the same with concerned authorities and employees to develop plans that organize the nature of each job and its grade in the organization, job guidelines and objectives with which production may be measured.

Summarize terms of compliance with various laws and regulations, and reflect the same in business policies.

Summarizing  all related regulations issued by the legislator, to be included in the processes/policies/regulations of the organization to ensure clarifying and applying compliance process as well as to increase staff awareness  about them to avoid any potential violations.

Develop organization’s educational awareness manual.

Organize and classify various rules and regulations in different sections  of the organization, and gather the same in a booklet to facilitate knowing all regulations in a comprehensive manner, to ensure compliance.

Document the principles of corporate governance and independence.

Clarify main elements in the organization for all or some of governance principals, independence and transparency in a realistic manner to the nature of the organization, as well as to identify the appropriate control principals and give integrated recommendations to access to the best standards in such filed.

Develop Code of Business Ethics.

Establish rules and code of ethics in the organization to ensure establishing a main complete policy that organize the ethics to be followed in the organization, including main elements such as accepting gifts, confidentiality, preserving rights and reporting suspicious behaviors, racism and other matters which can help to develop and organize work within the organization

| Training and Awareness Products

Provide product of comprehensive plan for training and educating all employees of the organization to help them make change.

SHAFAF will provide a well-thought-out work plan that include all staff participating in the annual main training. Whereas training courses will be conducted with  related functional specialties of the concerned organization, focusing on activities, services, workshops and meetings provided by business center where all employees are relating to. Continuous awareness of all staff, starting from their appointment and during their work in the organization, is essential to increase their awareness and enhance their ability to understand related laws and regulations and combat MLFT. The organization working in a very careful manner to deliver all information relating to this point to the competent employees in possible and various available methods of training.

Hold various specialized training courses: upon request of clients and in accordance with our leading specialists  in (compliance with laws and regulations, Anti-Money Laundering and Combating Financing Terrorism (AML/CFT), corporate governance, combating financial crimes (CFC), control mechanisms, work ethics).

SHAFAF has the ability to hold specialized training courses for employees, including the following topics and information:

  • Achieve compliance and conformity with laws and regulations.
  • The concept of compliance and AML/CFT – Code of Business Ethics (Code of Conduct).
  • Recent trends in Money Laundering concepts and methods.
  • Combating financial crimes and compliance with control standards.
  • Principles of corporate governance.

Conduct a survey to identify desires or orientations.

SHAFAF offers benchmarking service by providing survey services to identify related requirements, through establishing benchmarking mechanism related to the level of job satisfaction, type of provided training or level of knowledge of a particular subject.

Establish an online specialized training program in the required language.

SHAFAF allows make use of modern technology training services by providing the organization with modern training system to be offered to its targeted staff  to participate in training on a certain subject in the required language for participation while on duty with an excellent controlling level through changing questions and time frame and specialty of the provided training contents.

| Control and Inspection Products

Accurate review for forms, strategies, work processes and job description and their conformity with laws and regulations issued to gauge and determine compliance level.

SHAFAF provides reviewing product to identify main risks of noncompliance, which face the organization, assess the same and develop correction plans in case of any negligence in applying compliance. This revision shall be performed once a year at least. Such plans shall include any potential weakness in the existing compliance quality and determine the requirement of adding any policies or new procedures to face any future risks recognized by the annual risks assessment for noncompliance.

Implement the annual compliance program.

SHAFAF provides an annual compliance program , which is a comprehensive plan, including schedules for evaluating all laws and regulations and compliance with responsibilities to identify level of compliance therewith and applying thereof, in addition to issue a report about the comprehensive situation of the organization. Such program is the guaranteed way to identify the level of organization and assess the organizational risks of compliance. The outcome of this program is issuing a comprehensive report on the level of the organization to the senior management clarifying the level of applying laws and risks and includes SHAFAF recommendations to address them.

Organize and structure control and self-inspection committee.

SHAFAF provides organizing, establishing and structuring Control and Self-Examination Committee, it is a periodic consulting controlling committee responsible for discussing with officers in the organization periodically regarding different matters, including all laws and regulations and best standards applied to assess risks. Such committees shall issue recommendations that supports the organization to develop its level and culture.

Business assignment.

SHAFAF provides business assignment product to help organizations access to the highest levels of compliance with laws and regulations and the highest international standards through providing organizations with the following assigned business (Compliance Manager, Director of Control and Combating Financial Crimes, Corporate Governance, AMLTF Manager

| Technical Products

Self-assessment and inspection e-compliance program system.

The purpose of self-assessment of compliance management is to assess the compliance level electronically by measuring the processing and compliance with laws and regulations/internal instructions and circulars of the organization, obtaining the results report and risk level. This internal system plays a vital role to improve the level of the organization. It communicates the authorized party from the concerned management and follow up regarding the evaluation course. It is flexible one as it allows obtaining details regarding applying laws in the management and issuing detailed reports to each department.

 Anti-Money Laundering Control System.

AML/CFT is an e-system responsible for controlling all financial operations, including the incoming and outgoing to and by the organization, which includes ML risks index to be addressed by competent officers in the organization to consider the details of the operation, review, sign-off and file it, or report it, if ML is detected.

The proactive system for preventing dealing with blacklisted names.

The proactive system for preventing dealing with blacklisted names prevents any financial transactions with any blacklisted party by matching data with the persons listed in the blacklist, whereas the executive process shall be suspended until it is executed by the concerned person, who has the authority inside the organization to approve such transaction electronically. This system is the best international practices to ensure not to deal with blacklisted persons through electronically comparison between names of persons, who perform transactions and beneficiaries if they are listed and examine the names of new customers against lists and daily inspect clients’ preserved details.

Inquiry and research systems for enhanced care.

This tool enables investigation about the possibility of dealing with parties to ensure that they are clear of any restrictions, this tool can be provided and included in policies to ensure that they are used by all employees in the organizations to ensure the integrity of transactions proactively.

Intranet site for organizations and guidance.

It is the service of designing internal website for the organization, which is specialized in providing guidance and awareness regarding applying the applicable laws according to the best standards and allows inquires and communication.

Reporting system for suspicious acts, Anti-Money Laundering and Combating Financing Terrorism (AML/CFT).

It is an internal system connecting competent officers in the organization to get access to the confidential reports from all members and employees for investigation and control, to ensure not to involve the organization in any financial or money laundry crimes by any of its affiliates.