AML & CFT Guide

The guide is a unified operational charter containing all the approved policies and procedures at CHAM BANK as its programme for combating money laundering and terrorist financing. It sets out, for every employee at every administrative level including the Board of Directors, the fundamental and expanded principles to be followed so that the bank complies with the laws and decisions on anti-money laundering and counter-terrorist financing, and responds appropriately to international requirements — taking into account the recommendations of the Financial Action Task Force (FATF) — thereby protecting the bank from the risks of its accounts being misused for money laundering or terrorist financing.

• Document name: Anti-Money Laundering and Counter-Terrorist Financing Guide · Number: P-COM-18.
• Version: 04 · Date of issue: 18/08/2024 · Pages: 35.
• Prepared by the Compliance Department, reviewed by Quality Management, studied by the Policies and Procedures Committee.
• Approved by the Sharia Supervisory Board, then adopted and circulated by the Chief Executive Officer.

1. Laws and definitions.
2. Basic principles of anti-money laundering and counter-terrorist financing.
3. Risk assessment — internal and external factors, new products, practices, delivery channels and technologies, assessed before launch.
4. Responsibilities of the board, executive management, the Reporting Officer, and branch operations monitoring officers.
5. The programme at the bank — compliance arrangements, customer due diligence and beneficial ownership, politically exposed persons, exchange and transfer companies, monitoring of transfers, new accounts, the power-of-attorney register, cheques, operations conducted through modern technology, internal and external reporting, tipping-off, record keeping, training and independent audit.
6. Relationship with the Authority.
7. Conclusion.

An English edition of this guide is published separately on the AML & CFT Policies and Procedures page. The full Arabic text is in the original below.