To our partners
Dear partners!
Demir Kyrgyz International Bank CJSC (further – Bank), for the purpose of sustainable and mutually beneficial cooperation, considers it necessary to inform you of the following.
According to the Law of the Kyrgyz Republic “On Combating the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds” (CFCA/LCP), as well as a number of regulations issued by State Financial Intelligence Service of the Kyrgyz Republic (SFIS KR) and National Bank of the Kyrgyz Republic (NBKR)), Bank implements the following compliance control measures, including CFCA/LCP.
- Ensuring compliance of Bank activity on it’s all business levels with the requirements of the banking legislation of the Kyrgyz Republic and other regulatory legal acts, as well as the legislation of foreign states (if relevant).
- Organization of the separate compliance control department responsible for compliance with and implementation of the internal control rules for compliance risk management, including risk of FCA/LCP. The independence of the activities of this department is ensured by its position in the organizational structure of the Bank and by direct reporting to the Board of Directors.
- Ensures the completeness and adequacy of internal control on compliance risk management, including risk FCA/LCP, namely: implementation of a set of Customer’s Due Diligence (CDD) measures to identify and verify the customer during the opening of an account and servicing, assessment of the customer and customer’s beneficial owners, risk assessment, monitoring of operations, regular updating of identification data of customer and beneficial owners, applying Enhanced CDD measures to Public Officials and PO related persons
- Bank also controls Conflict of Interest, that can arise between bank employees and with Bank counterparties, suppliers and other related persons, also implements other control measures for the purpose of effective and safe corporate management inside Bank.
- Bank also performs all necessary and possible measures to implement effective sanctions compliance control, to avoid any risk of sanctions restrictions violation, and also reputational risk that can incurred for Bank or for Bank’s business partners. Results of Bank control activity are reflected in regular reports of control department for Bank Risk Management Committee and BoD.
- Being a reporting FFI, Bank implements control measures in accordance with the requirements of the United States of America Foreign Account Tax Compliance Act of March 18, 2010 (FATCA).
- Bank does not maintain correspondent relations with "shell banks", banks registered in offshore zones and in a number of countries that do not support the FATF recommendations. Before opening LORO or NOSTRO accounts, in addition to collecting the required documents, Bank studies information and documents of the potential bank partner, in the part of its measures on CFCA/LCP (its physical presence, shareholder structure, CFCA/LCP regulatory framework, reporting to a government agency, etc.), on the basis of which an assessment of the given bank is made regarding its risk of being involved in the CFCA/LCP process.
Dear partners!
Demir Kyrgyz International Bank CJSC (further – Bank), for the purpose of sustainable and mutually beneficial cooperation, considers it necessary to inform you of the following.
According to the Law of the Kyrgyz Republic “On Combating the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds” (CFCA/LCP), as well as a number of regulations issued by State Financial Intelligence Service of the Kyrgyz Republic (SFIS KR) and National Bank of the Kyrgyz Republic (NBKR)), Bank implements the following compliance control measures, including CFCA/LCP.
- Ensuring compliance of Bank activity on it’s all business levels with the requirements of the banking legislation of the Kyrgyz Republic and other regulatory legal acts, as well as the legislation of foreign states (if relevant).
- Organization of the separate compliance control department responsible for compliance with and implementation of the internal control rules for compliance risk management, including risk of FCA/LCP. The independence of the activities of this department is ensured by its position in the organizational structure of the Bank and by direct reporting to the Board of Directors.
- Ensures the completeness and adequacy of internal control on compliance risk management, including risk FCA/LCP, namely: implementation of a set of Customer’s Due Diligence (CDD) measures to identify and verify the customer during the opening of an account and servicing, assessment of the customer and customer’s beneficial owners, risk assessment, monitoring of operations, regular updating of identification data of customer and beneficial owners, applying Enhanced CDD measures to Public Officials and PO related persons
- Bank also controls Conflict of Interest, that can arise between bank employees and with Bank counterparties, suppliers and other related persons, also implements other control measures for the purpose of effective and safe corporate management inside Bank.
- Bank also performs all necessary and possible measures to implement effective sanctions compliance control, to avoid any risk of sanctions restrictions violation, and also reputational risk that can incurred for Bank or for Bank’s business partners. Results of Bank control activity are reflected in regular reports of control department for Bank Risk Management Committee and BoD.
- Being a reporting FFI, Bank implements control measures in accordance with the requirements of the United States of America Foreign Account Tax Compliance Act of March 18, 2010 (FATCA).
- Bank does not maintain correspondent relations with "shell banks", banks registered in offshore zones and in a number of countries that do not support the FATF recommendations. Before opening LORO or NOSTRO accounts, in addition to collecting the required documents, Bank studies information and documents of the potential bank partner, in the part of its measures on CFCA/LCP (its physical presence, shareholder structure, CFCA/LCP regulatory framework, reporting to a government agency, etc.), on the basis of which an assessment of the given bank is made regarding its risk of being involved in the CFCA/LCP process.
Dear partners!
Demir Kyrgyz International Bank CJSC (further – Bank), for the purpose of sustainable and mutually beneficial cooperation, considers it necessary to inform you of the following.
According to the Law of the Kyrgyz Republic “On Combating the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds” (CFCA/LCP), as well as a number of regulations issued by State Financial Intelligence Service of the Kyrgyz Republic (SFIS KR) and National Bank of the Kyrgyz Republic (NBKR)), Bank implements the following compliance control measures, including CFCA/LCP.
- Ensuring compliance of Bank activity on it’s all business levels with the requirements of the banking legislation of the Kyrgyz Republic and other regulatory legal acts, as well as the legislation of foreign states (if relevant).
- Organization of the separate compliance control department responsible for compliance with and implementation of the internal control rules for compliance risk management, including risk of FCA/LCP. The independence of the activities of this department is ensured by its position in the organizational structure of the Bank and by direct reporting to the Board of Directors.
- Ensures the completeness and adequacy of internal control on compliance risk management, including risk FCA/LCP, namely: implementation of a set of Customer’s Due Diligence (CDD) measures to identify and verify the customer during the opening of an account and servicing, assessment of the customer and customer’s beneficial owners, risk assessment, monitoring of operations, regular updating of identification data of customer and beneficial owners, applying Enhanced CDD measures to Public Officials and PO related persons
- Bank also controls Conflict of Interest, that can arise between bank employees and with Bank counterparties, suppliers and other related persons, also implements other control measures for the purpose of effective and safe corporate management inside Bank.
- Bank also performs all necessary and possible measures to implement effective sanctions compliance control, to avoid any risk of sanctions restrictions violation, and also reputational risk that can incurred for Bank or for Bank’s business partners. Results of Bank control activity are reflected in regular reports of control department for Bank Risk Management Committee and BoD.
- Being a reporting FFI, Bank implements control measures in accordance with the requirements of the United States of America Foreign Account Tax Compliance Act of March 18, 2010 (FATCA).
- Bank does not maintain correspondent relations with "shell banks", banks registered in offshore zones and in a number of countries that do not support the FATF recommendations. Before opening LORO or NOSTRO accounts, in addition to collecting the required documents, Bank studies information and documents of the potential bank partner, in the part of its measures on CFCA/LCP (its physical presence, shareholder structure, CFCA/LCP regulatory framework, reporting to a government agency, etc.), on the basis of which an assessment of the given bank is made regarding its risk of being involved in the CFCA/LCP process.