Bank Customers KYC and Classification for Combating Money Laundry Purposes Institute of Banking Studies

Objectives :

  • Introduce participants to the client with banks and accept customer identification policy.
  • For the participants to identify the customers and the identity of the beneficial owners for natural persons and legal persons and correspondent banking procedures.
  • To familiarize the participants on how to update customer data.
  • Increase the participants' knowledge on the ongoing processes of how to control.
  • Enable participants to take caution in opening accounts procedures or services to customers and high risk operations.

Contents :

  • Terminology.
  • Identify the client / General Provisions identity.
  • The start of a relationship with the client.
  • Identification of customers and beneficial owners identity for natural persons actions.
  • Identify the clients and for the identity of the beneficial owners of legal persons actions.
  • To identify measures for banks correspondence and documents are required of them.
  • To update the data for customers.
  • Continuing operations control.
  • Management systems for money laundering and terrorist financing risks (customers and products classified according to the degree of their risks).
  • Intensive care measures for categories of customers and financial operations are high risk (the powerful politicians, is staying, people who belong to the countries of the recommendations do not apply).
  • Indirect operations and the use of modern technology.
  • VIP private banking services.
  • Rules dealing with electronic transfers.

The Central Bank of Jordan began in 1965 to study the necessary means of setting up a team for theoretical and practical training aimed at promoting human cadres of the banking and financial sector and study its employees needs and satisfy their desires to advance their scientific and practical abilities . These efforts culminated in the creation of the Institute of Banking Studies in accordance with Article (37) Paragraph (d) of the Central Bank of Jordan Law and in accordance with the Institute,s Articles of Association No. (69) issued on 1970. The Institute   was   officially   inaugurated on   October 9, 1971 and was housed then at the Central Bank,s premises.

In the early 1990,s , the  Institute  witnessed a new stage ; the construction of the Institute,s permanent   headquarter   in  Tla,a  Al  Ali ,  a suburb of the capital  Amman . The complex was constructed on an eight dunums plot of land and comprised of administration units, academic and training activities halls, library, laboratories, cafeteria, health clinic and a multipurpose hall. Also , the Institute has two branches, one in Irbid and the other in Aqaba.  The purpose of  these  branches is to widen the distribution of academic and training activities conducted  by the Institute to cover the various regions of the Kingdom.

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