BFIU Circular Letter No. 2: Introduction of Uniform Account Opening Form & KYC Form for Financial Institutions

Bangladesh Financial Intelligence Unit Bangladesh Bank Head Office Dhaka. Website: www.bfiu.gov.bd BFIU Circular Letter No. 02/2015 Date:

Managing Director/Chief Executive Officer All Financial Institutions Operating in Bangladesh Dear Sir,

Regarding the introduction of uniform account opening forms and KYC forms for all financial institutions.

In accordance with the decision taken in the Conference of Chief Money Laundering Prevention Compliance Officers of Financial Institutions held on December 11, 2014, uniform account opening forms and KYC forms have been developed for use by all financial institutions in Bangladesh. It is advised to follow the instructions given below for implementing these forms in your institutions:

1. All financial institutions must implement the uniform account opening form and KYC form as soon as possible, but must complete this by June 30, 2015, and submit one set of the newly printed forms to this department.

2. Financial institutions must duly fulfill their responsibility to preserve correct and complete customer information in accordance with Section 25(1)(a) of the Anti-Money Laundering Act, 2012.

3. The following forms must be used at the time of account opening:

Individual Account

1. Account Opening Application Form (Individual Account)
2. Account Opening Form: Individual Information (as many as needed)
3. Customer Identification Related Form (KYC Checklist)

Non-Individual Account

1. Account Opening Application Form (Non-Individual Account)

2. Account Opening Form: Individual Information (as many as needed)

3. Customer Identification Related Form (KYC Checklist)

4. The information in the uniform form must be present in the account opening forms of all financial institutions, but any financial institution may add additional information if necessary.

5. The forms may be printed in Bengali, English, or both languages. However, information must be collected and preserved in both Bengali and English in the specified spaces in the form.

6. All financial institutions will attach the terms and conditions related to their accounts with the form according to their own regulations.

7. Sharia-based financial institutions may use common terms or Islamic terms that are prevalent and consistent.

8. If additional information is required for special schemes, financial institutions will use it by creating it below the specified space or in a separate form. However, the minimum information specified in the uniform form must be collected.

You are advised to inform this unit regarding the measures taken in this matter by July 7, 2015.

Enclosed: 8 (Eight) pages. Yours faithfully,

(Md. Nasir Uddin Zaman) General Manager Phone: 9530118

Copy No. - BFIU(Fin)-01/2015-2911 Date: For information and necessary action, copies are sent to:

1. All Divisional Heads, Bangladesh Bank, Head Office, Dhaka.
2. General Manager, Bangladesh Bank, Motijheel, Dhaka/Chittagong/Rajshahi/Khulna/Bogura/Sylhet/Sadarghat/Dhaka/Barishal/Rangpur/Mymensingh.
3. Secretary to the Governor, Bangladesh Bank, Head Office, Dhaka.
4. Personal Staff to the Governor, Bangladesh Bank, Head Office, Dhaka.
5. Deputy Directors/Assistant Directors attached with the Deputy Governors, Bangladesh Bank, Head Office, Dhaka.
6. Personal Assistants to the Additional Advisors/Executive Directors, Bangladesh Bank, Head Office, Dhaka.
7. Executive Director, Bangladesh Bank Training Academy, Mirpur-2, Dhaka.
8. Director General, Bangladesh Institute of Bank Management, Mirpur, Dhaka.
9. Chairman, Bangladesh Leasing and Finance Companies Association, Motijheel, Dhaka.

(Mohammad Mahbub Alam) Deputy Director Phone: 9530010-75/2474 E-mail: dd.bfiu@bb.gov.bd

1 Chaitra, 1421 15 March, 2015

...................................Name of Financial Institution ...................Branch Account Opening Application Form Individual Account Date:............................... Account Number: .................................. Unique Customer ID Code:.................... Manager -------------- (Name of Financial Institution)

--------------. Sir, I/We are applying to open a Fixed Deposit Account as described below at your institution. I/We provide our detailed information below:

1. Name of Applicant(s) (in Bengali): ...................................................................................................................... Name of Applicant(s) (in English): .............................................................................................................. First Applicant Second Applicant Third Applicant Fourth Applicant

2. Type of Account (Tick): Fixed Term-1 Fixed Term-2 Fixed Term-3 Others ...........................................................

3. Declaration regarding Account Operation (Tick): Solely Jointly Any One Others.................................................................................. Special Instructions (if any) ............................................................

4. Information regarding Deposit: Tenure: Years Months Days. Maturity Date:............................................ (Must be made through banking channel instruments i.e., check, draft, etc.) For Renewal: Renew Principal and Interest Only Renew Principal Not Applicable

Amount of Deposit: Taka, in words (Taka ) Check No./Pay Order No. Date Name and Branch of Bank

5. Information regarding Special Scheme: Scheme Name:................................................................................................................................... Scheme Tenure:...................... Amount of Single Deposit/Installment: .................... Number of Installments (Weekly):.............. Deposit within Tenure:.................................................... Monthly Deposit:.....................................................

6. Source of Deposit (Describe in detail): .............................................................................................

7. If one or more account holders are minors: I hereby declare as the guardian of the following account holder that the account holder is a minor. The required information is provided in the attached form. The account will be operated by my signature as the guardian until the account holder becomes an adult or until I make a further declaration. (a) Name of Account Holder (Minor):............................................................................................... (b) Name of Guardian:........................................ Relationship with Minor: .................. (Individual Information Form must be filled for both the minor and the guardian, and the guardian must sign both forms.)

8. Nominee Information: I/We have nominated the following person(s) to receive the funds of this account after my/our death. I/We reserve the right to cancel or change this nomination at any time. I/We also consent that (Name of Financial Institution) shall not be liable in any way for transactions made according to my/our instructions. Nominee Name: 1. .................................................................................................................................. And Entitled Share 2. ........................................................................................................................ Date of Birth: 1............................................. 2............................................. Father's Name: 1............................................. 2............................................. Mother's Name: 1............................................. 2............................................. Husband/Wife's Name: 1............................................. 2............................................. Permanent Address of Nominee: 1. .................................................................................................................................. 2.................................................................................................................................. Profession: 1............................................. 2............................................. Relationship with Account Holder: 1..........................................2.......................................... Birth Registration No. and Issuing Authority (if any): 1.............................................2........................................... National ID Number (if any): 1..................................... 2............................................. (If a non-resident nominee is appointed, the existing Foreign Exchange Regulation Act rules will apply regarding the transfer of funds due to that non-resident abroad.)

9. Declaration and Signature: I/We hereby confirm that I/We have read all rules/regulations related to the account and will be bound to follow them. I/We declare consciously that the above-mentioned information is true and correct. I/We will provide any additional necessary information/documents as required by you.

Name, Signature and Date of Applicant(s) .............................................. For Office Use Remarks: ......................... ............................ Officer Approving Account Opening Officer Approving Name, Signature with Seal and Date Name, Signature with Seal and Date

Nominee Photograph (Verified by Customer) Nominee Photograph (Verified by Customer)

....................................Name of Financial Institution ....................Branch Account Opening Application Form Non-Individual Account Date:............................... Account Number: .................................. Unique Customer ID Code:.................... Manager -------------- (Name of Financial Institution)

--------------. Sir, I/We are applying to open a Fixed Deposit Account as described below at your institution. I/We provide our detailed information below:

1. Name of Account: (in Bengali)................................................................................................................... (in English)...................................................................................................................

2. Type of Institution (Tick): Private/Public Ltd. Sole Proprietorship Partnership NGO/NPO Government Club/Society Others (Write)........................

3. Type of Account (Tick): Fixed Term-1 Fixed Term-2 Fixed Term-3 Others ...........................................................

4. Declaration regarding Account Operation (Tick): Solely Jointly Any One Others .................................................................................. Special Instructions (if any) ............................................................

5. Address of Institution: a. Registered Address:..................................................................................................... b. Business Premise/Office Address:..................................................................................................... c. Factory/Industrial Establishment Address:..............................................................................................

6. Trade License Number: .................................................... Date: ...................................... Issuing Authority:.......................................................................................................

7. Registration Authority and Country:...................................................................................................... (For both domestic/foreign types)

8. Registration Number:...................................................... Date: ....................................

9. Tax ID Number (TIN):......................................................................................................

10. VAT Reg. Number (if any):.....................................................................................................

11. Nature of Business (Describe in detail):......................................................................................................

12. Information regarding Deposit: Tenure: Years Months Days. Maturity Date:........................................... (Must be made through banking channel instruments i.e., check, draft, etc.) For Renewal: Renew Principal and Interest Only Renew Principal Not Applicable. Amount of Deposit: Taka, in words (Taka ) Check No./Pay Order No. Date Name and Branch of Bank

13. Information regarding Special Scheme: Scheme Name:................................................................................................................................... Scheme Tenure:...................... Amount of Single Deposit/Installment: .................... Number of Installments (Weekly):.............. Deposit within Tenure:.................................................... Monthly Deposit:.....................................................

14. Source of Deposit (Describe in detail): .............................................................................................

15. Declaration and Signature: I/We hereby confirm that I/We have read all rules/regulations related to the account and will be bound to follow them. I/We declare consciously that the above-mentioned information is true and correct. I/We will provide any additional necessary information/documents as required by you.

Customer's Signature, Name, Designation, and Date

1. . 2. . 3. . . . . . . . For Office Use Remarks: ......................... ............................ ......................... ............................ Officer Approving Account Opening Officer Approving Name, Signature with Seal and Date Name, Signature with Seal and Date

(This form must be filled and attached with the main part of the Individual and Non-Individual Account forms.) Date:............................... Account Number: ............................ Unique Customer ID Code:....................

1. Customer's Name: (in Bengali)............................................................................................ (in English) ........................................................................................

2. Relationship with Account (Tick in applicable fields): 1st Applicant 2nd Applicant 3rd Applicant Director Partner Attorney Holder Signatories Beneficial Owner Others

3. Father's Name: (in Bengali).............................................................................................. (in English)....................................................................................

4. Mother's Name: (in Bengali).............................................................................................. (in English)....................................................................................

5. Husband/Wife's Name: (in Bengali).............................................................................................. (in English)....................................................................................

6. Nationality:..............................................................................................

7. Date and Place of Birth:...............................................................................................

8. Gender (Tick): Male Female

9. Profession (Detailed description):................................................................................................

10. Passport Number:................................................................................................

11. National ID Number:..................................................................................

12. Birth Registration Certificate Number:.........................................................................

[From serial numbers 10-12, any one document must be provided compulsorily. However, in case of account opening before providing a Birth Registration Certificate, in addition to the Birth Registration Certificate, any identity document along with the photograph of the customer/account operator must be provided. If there is no identity document with photograph, a certificate of identity provided by a respectable person of the society acceptable to the financial institution must be provided. Such identity document or certificate must include the photograph of the customer/account operator. Furthermore, in addition to the documents mentioned in serial numbers 13-14 below, any other documents and additional information as required by the financial institution to verify the customer's identity must be provided to the satisfaction of the financial institution.]

Respectable person means Members of Parliament, Mayor, Deputy Mayor and Councilors of City Corporations, Gazetted Officers of First Class, Teachers of Public Universities, Chairman and Vice Chairman of Upazila Parishad, Chairman of Union Parishad, Mayor and Councilors of Pourashava, Principal of Private Colleges, Head Teachers of Government and Private High Schools and Government Primary Schools, Editor of National Daily Newspapers, Notary Public, and Gazetted Officers of First Class of Semi-government, Autonomous and State-owned organizations and State-owned Banks.

Photograph ......................... Name of Financial Institution ...................Branch Account Opening Form: Individual Information

13. Tax ID Number (TIN) (if any):...........................................................................................

14. Driving License Number (if any): ................................................................................................

15. Current Address (Residence): (in Bengali).............................................................................................. (in English)....................................................................................

16. Permanent Address: (in Bengali).............................................................................................. (in English)....................................................................................

17. Professional Address:.................................................................................................

18. Contact: Telephone: Home:.................................... Office:.................................... Mobile: ............................. E-mail:......................................... Fax: ...........................

19. Credit Card Related Information: Issuing Institution and Card Number (if using card): 1. ..............................................................

20. ................................................................

21. Residence Status (Tick): Resident Non-Resident (In case of need, information must be collected following the Guidelines for Foreign Exchange Transactions)

Signature (with Date)

Customer Identification Related Form (KYC Checklist):

1. Name of Account:

2. Type and Number of Account:

3. Unique Customer ID Code:

4. Name of Account Holder:

5. Name of Account Opening Officer:

6. Birth Registration Number...................................... Photo Copy Taken?: Yes / No (As applicable)

7. Passport Number ........................................ Photo Copy Taken?: Yes / No (As applicable)

8. National ID Number.............................. Photo Copy Taken?: Yes / No (As applicable)

9. TIN ....................................... Photo Copy Taken?: Yes / No (As applicable)

10. VAT Reg. Number .................................... Photo Copy Taken?: Yes / No (As applicable)

11. Driving License Number ............................. Photo Copy Taken?: Yes / No (As applicable)

12. Information regarding Beneficial Owner (UBO) of the Account (For companies, KYC must be conducted after collecting detailed information of single shareholders holding 20% or more share. Additionally, KYC must be conducted after collecting detailed information of controlling shareholders. For individual accounts, KYC must be conducted by identifying the Beneficial Owner): ............................................................................................................................

13. What is the source of deposit? How has the source of funds been verified? (As applicable) ..............................................................................................................................

14. Is the source of deposit consistent with the customer's profession? Consistency must be verified after obtaining a detailed description of the customer's profession:

15. Risk Grading: (Remarks: The customer's risk must be necessarily considered in the remarks section. In determining customer risk, the customer's profession must be analyzed in detail. In the case of business, the nature of business, amount of funds, area of business, size of business, Beneficial Owner of the account, etc., and other special aspects must be considered to classify the customer as high or low risk. Similarly, in the case of employment, detailed information must be obtained, and risk must be determined especially based on the nature of employment and level of responsibility. Regular monitoring must be conducted if the customer is high risk.)

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Name, Signature (with Seal) and Date of Account Opening Officer/Relationship Manager Name, Signature (with Seal) and Date of Approving Officer

16. Date of Last Review/Update of Account and Customer Information:

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Name (with Seal), Signature and Date of Reviewer and Updater High Low Remarks: