BOTSWANA LIFE INSURANCE LIMITED URGES CUSTOMERS TO COMPLY WITH KNOW YOUR CUSTOMER RULES

Enhancing Compliance with Financial Intelligence Agency

In an effort to comply with the Financial Intelligence Act 2019, Botswana Life Insurance Limited is reminding its customers of the necessity to submit Know Your Customer (KYC) forms. As per Section 15 and 16 of the Act, the insurance company is legally obligated to verify the identity of its clients prior to establishing a business relationship.

Why KYC Forms are Required

The purpose of these forms is to ensure that the identity of clients and their source of funds are properly verified in accordance with Anti-Money Laundering Laws and Regulations. This is a mandatory requirement for existing clients as part of the company’s Due Diligence process.

KYC Forms Available for Customers

To facilitate this process, Botswana Life Insurance Limited has attached three KYC forms that customers are required to fill in and submit accordingly:

• KYC Forms for Individuals: Designed for personal details such as name, address, date of birth, etc.
• KYC Forms for Non-Individuals: For entities or organizations requiring identification and verification
• KYC Forms for Legal Entities: Specifically designed for legal entities, such as companies or trusts

How to Submit KYC Forms

Customers are requested to fill in the applicable form and send it back to the email address KYC@blil.co.bw or submit it at any of the company’s branches. For assistance with filling out the form, customers can contact the Call Centre on 3623700 or visit their nearest branch.

By complying with these regulations, Botswana Life Insurance Limited is committed to maintaining a safe and secure business environment for its clients.