AML Statement

The unit department manages the technical analysis and the process of updating information systems to monitor customer accounts and employees. In addition, the unit is responsible for providing consultations, awareness, and oversight processes concerning financial crimes.

The compliance unit determines the policy and assembles a set of tasks, which include:

1. To examine all clients and transactions against blocklists, whether local or international when deciding on the customer's request to open the account and regularly throughout the relationship.
2. Studying cases of reporting on suspicious transactions, which requires all employees to report on the compliance unit. In turn, documentation is reviewed by the decision unit, and in cases of violation, the unit makes the decision to report to the Libyan financial information unit.
3. Design and develop appropriate actions to report suspicious transactions through a compliance officer to combat money laundering and the financing of terrorism.
4. Employ a mechanical system to distinguish and determine the out-of-ordinary patterns of account activity when compared to known customers.
5. Design a comprehensive training program for all employees to train and to combat money laundering or financing terrorism and the legal risk that affects the bank or may constitute a personal responsibility in any case of failure.
6. In general, the Bank's policy of money washing, and financing terrorism includes multiple prohibitions including prohibitions regarding opening accounts for an anonymous person, and restrictions dealing with banks that have no material attendance such as "Shell banks".