Regulatory Alerts2023-04-27
Added · Updated
Access to banking services for corporate customers
The Circular Instruction on Risk (CIR) issued on 27 April 2023 addresses access to banking services for corporate customers within the context of Anti-Money Laundering and Counter-Financing of Terrorism controls. It mandates that all Authorized Institutions implement robust account opening and maintenance procedures to ensure financial inclusion while adhering to regulatory standards. The document is accompanied by an annex detailing key observations and good practices identified during the on-boarding of corporate customers.