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Compliance and Anti-Financial Crimes

Compliance AML and CTF


​Bank Albilad is fulfilling and adhering to Saudi Arabian Monetary Authority (SAMA) laws, including Anti-Money Laundering (AML) and combat terrorism finance (CTF) rules. And to complies with this, Bank Al Bilad has established a strong polices related to AML/CTF to secure not utilize bank’s customers and channels in any AML/CTF areas. 
Similarly, the bank initiates a procedure to evaluate potential risk linked with customer, services and products, likewise the geographical areas which the bank identifies and analyze in order to grow appropriate standards.
 And for maintaining first class aspect, the Bank found an independent management to combat money laundering and terrorism financing, in which its top responsibility all cases related to combatting money laundering and terrorism financing in the bank. A management well-provided with qualified staff, high-tech tools and automated systems to monitor daily transactions in the bank to assure that the business is clear from any AML/CTF suspicious transactions and Relation.

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“Know Your Customer” policy


This policy identifies the procedures required to open / establish a banking relationship, and its top aim is to guarantee the verification of customer ID. 
The main goal for such policy is to secure the bank form any potential suspicion related to AML/CTF that may associated with high risk customers and to secure the bank from any loss such as reputation loss, law loss and financial loss. 

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Training


The bank has set a frequently training plan to all its employees in which include an introduction to Know Your Customer (KYC) policy, a general awareness material related to AML/CTF risks and inclusive definition to the laws and rules linked with financial crimes. As well as, the bank is keep updating its training material in accordance with worldwide update in AML/CTF filed. 
Here are some examples of bank’s training:
  • What the meaning of AML
  • General information about how AML 
  • How AML laws can apply on facilities and its employees. 
  • KYC Polices and how it works
  • How to prepare an AML suspicious case
  • Staff responsibilities toward AML/CTF 

Bank Albilad Wolfsberg CBDDQ
 

USA PATRIOT ACT Certification 

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All Rights Reserved © 2024 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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