The Committee shall in particular exercise the following powers:

(a) formulate policies and procedures to regulate the business of the Committee;
(b) establish general policies with regard to the prevention and prohibition of money laundering;
(c) in co-ordination with the relevant entities, issue guidelines on the reporting of suspicious transactions;
(d) study regional and international developments in the field of money laundering for the purpose of recommending updates to the guidelines and changes to the Law when necessary;
(e) co-ordinate with the relevant entities for the implementation of the United Nations Convention and the Arab Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances.