Anti-Money Laundering (AML) & Know Your Costumer(KYC) Policy

AML & KYC

As a leading financial institution, Dara Salaam Bank recognizes the importance of establishing sound and adequate guidelines to prevent the institution from being used for money laundering and terrorist financing.  The Bank rigorously accordingly adhere to the international AML standards, such as Forty plus Nine Recommendations of the Financial Action Task Force on money laundering (FAFT) and national AML-legislation.

To ensure compliance with the rule of law, the Bank maintains comprehensive risked-based AML procedures, which include client screening and monitoring requirements and “know your customer” (KYC) policies.

These policies are intended to mitigate the risk of money laundering and to ensure that appropriate measures when money laundering is detected.   Adherence to this policy is absolutely fundamental for ensuring that the Bank fully complies with international AML standards and local laws and regulations.