and their financial dealings to be able to serve them better and manage its risks
verifying his/ her identity by using reliable, independent source documents, data
or information. For individuals, financial institutions will obtain identification data
to verify the identity of the customer, his address/ location and also his recent
photograph. This will be done for the joint holders and mandate holders as well.
For non-individuals, bank will obtain identification data to:
verify the legal status of the legal person/ entity;
verify identity of the authorized signatories; and
verify identity of the Beneficial owners/ controllers of the account.
To ensure that sufficient information is obtained on the nature of employment/
business that the customer does / expects to undertake and the purpose of
applying for our financial services.
been taking KYC documents in accordance with the guidelines issued by
respective government agencies(e.g. Central Bank and/or MOF)from time to
time. KYC guidelines in the context of recommendations are made by the
Financial Action Task Force (FATF) on Anti Money Laundering standards and on
Combating Financing of Terrorism and to ensure that the KYC standards are in
line with international benchmarks.
guidelines issued by most governing agencies on Know Your Customer [KYC]
Standards – Anti Money Laundering [AML] Measures, all financial institutions are
required to put in place a comprehensive policy framework covering KYC
Standards and AML Measures. The Prevention of Money Laundering Act (PMLA)
which came into forceglobally also requires Banks, financial institutions and
Intermediaries to ensure that they follow certain minimum standards of KYC and
AML as laid down in the Act and the “rules” framed there under.
Opening a new account or requesting for financial services. Opening a
subsequent account where documents as per current KYC standards not been
submitted. KYC will also be carried out in respect of non-account holders
approaching the bank for high value one-off or multiple transactions.
Authorized Representative and who is in touch with you for your transactions.
customer) or discontinue its relationship with you citing non-providing of KYC
information / documents (if you are an existing customer).
However, for certain categories of customers who are not able to provide the
necessary documents, we are open for consultation and may waiver such
documentations if the reasons are deem valid.