Title: Suriname’s Republic Bank Strengthens Anti-Money Laundering and Countering of Terrorist Financing Compliance

Overview

The Central Bank of Suriname regulated Republic Bank (Suriname) N.V. has reaffirmed its commitment to upholding the highest standards of banking compliance, adhering to the Banking and Credit System Supervision Act 2011 and the Central Bank of Suriname’s April 2015 Directive.

Commitment to Compliance

• Republic Bank (Suriname) N.V. is subject to stringent Anti-Money Laundering (AML) and Countering of Terrorist Financing (CTF) regulations.
• Appointed a Compliance Officer.
• Established a formal AML/CTF program.
• Implemented robust policies, procedures, and controls.
• Provides continued staff training.
• Undergoes regular independent audits for evaluation and improvement.

Customer Due Diligence (CDD) Program

• New clients must provide full name, date of birth (for individuals), address, identification number.
• Records are kept on file for a minimum of seven years.

Proactive Approach to AML/CTF

• Regularly compares client database against sanctioned terrorist lists locally and internationally.
• Mitigates risks to both clientele and Suriname as a whole.

Success in Implementation

• Republic Bank (Suriname) N.V. successfully implemented its AML/CTF program, meeting the requirements of the Central Bank of Suriname’s Directive.
• Dedicated to fostering a secure financial environment.
• Protecting the integrity of Suriname’s banking sector.