Regulatory Alerts2016-11-26
Added · Updated
Appendix No. 1: Minimum Customer Identification Data Requirements
The issuing authority mandates specific minimum customer identification data requirements for financial institutions handling natural persons and legal entities. The document details mandatory fields for identification, including full names, national IDs, passport numbers, addresses, and income sources for individuals, alongside registered names, trade names, tax numbers, and ownership structures for legal entities. It explicitly prohibits listing account purposes as 'Commercial activities' for natural persons and requires the collection of beneficial owner information and authorized signatory data. These obligations apply to all customer accounts, including joint accounts and those managed by agents.
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