Anit-Money Laundering Statement

Anit-Money Laundering Statement

Ahli Bank SAOG (ahlibank) is a joint stock company (http://www.ahlibank-oman.com ) which is licensed and regulated by the Central Bank of Oman (CBO) and listed on the Muscat Stock Exchange (http://www.msm.gov.om ).  

 

The Sultanate of Oman defines money laundering and terrorist financing as criminal offences.  The supporting Financial Crimes regulation implemented by the CBO is based on the principles of the Financial Action Task Force (FATF).  The Anti Money Laundering regulations issued by the CBO can be accessed by visiting the website: http://www.cbo-oman.org

 

In keeping with this regulation, ahlibank maintains appropriate customer screening, monitoring and related due diligence procedures that are designed to prevent ahlibank from doing business with entities which engage in money laundering practices or illegal activity. In relation to incorporated entities, these processes extend to the individuals that control such corporations.  Officers and relevant staff of ahlibank are made aware of policies, procedures and processes and are mandated to adhere to them.  Written records documenting compliance with such procedures are maintained.  We also require that all correspondent banks with which we do business maintain appropriate procedures.

 

ahlibank policy requires that all relevant staff who deal with customers and / or who are managerially responsible for handling customer relationships, must undergo annual training on Anti-Money Laundering and Know Your Customer (KYC) regulation and procedures.  

 

ahlibank also requires all Respondent banks with which we do business, to have appropriate money laundering prevention mechanisms in place.  ahlibank maintains no accounts with anonymous principals and does not conduct business with any bank which does not maintain a physical presence in jurisdiction in which it is licensed and which is not a regulated affiliate.