A Large Step towards AML

Tuesday, September 12, 2017
Managing Director of Bank Melli Iran said;" Bank Melli Iran, the largest Islamic bank in the world, Due to the emphasis of superior institutions, took a step to bring the act of Anti-Money Laundering into action.

 According to Public Relations Dept. of BMI, Dr. Mohamadreza Hoseinzadeh added to his saying that a set of Laws and Executive By-Laws of Anti-Money Laundering Act were drafted, passed, revised and were eventually announced to all branches all over the country.

He stated that this circular involves identity authentication of Iranian and foreign customers, determining activity level of customers, how to send client's documents to their postal address, observing AML rules in payment systems and correspondent relationships, cash transaction report and suspicious transaction report.

CEO of BMI emphasized;" in the next step, this bank will initiate using updated software systems and latest standards for KYC process in Iran's banking network.

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