Bank of Jordan Tightens Customer Identification Procedures
Complying with Anti-Money Laundering and Terrorism Financing Regulations
In an effort to ensure compliance with anti-money laundering (AML) and terrorism financing regulations, Bank of Jordan has implemented stricter customer identification procedures.
New Requirements for Customers
- All customers, including non-Jordanians, will be required to provide proof of identity in the form of documents signed by a competent employee stating that they are true copies.
- Customers must sign a pledge to provide the bank with a copy of their passport and any other relevant documents.
Additional Information Required
- Customers must provide information about the nature of their activities and the source of their funds.
- The bank will use this information to validate the correctness of the data and information obtained from the customer through biased and trusted sources, including but not limited to the database of the Civil Status Department.
Account Opening Application Requirements
- All information and data contained in the account opening application must be filled out based on supporting original formal documents.
- The bank will take necessary procedures to ensure that the customer’s name is not listed or similar to a listed name within the list of terrorist persons or organizations.
Prohibited Activities
- Digital accounts
- Anonymous persons
- Fake identities
- Leasing safe deposit boxes for non-customers
Commitment to Transparency and Accountability
The new policies are aimed at ensuring that Bank of Jordan complies with international standards and regulations in fighting against money laundering and terrorism financing. The bank is committed to maintaining a high level of transparency and accountability in its operations.
Referencing the Approved Unified List
Prior to commencing or continuing a banking relationship with any customer, the bank will refer to the approved Unified List relating to anti-terrorist financing and Money Laundering.
Effective Date
The new procedures are effective immediately. All customers are advised to comply with the new requirements.
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