UAE Central Bank amends anti-money laundering rule
New rule strictly prohibits the opening of accounts with assumed names or numbers, among others
Abu Dhabi: The UAE Central Bank has issued a resolution amending a regulation concerning procedures for anti-money laundering.
According to the Central Bank resolution, the regulation shall be amended to include the information of the account holder.
When opening an account, the bank should ensure obtaining all information and necessary documents which include: the full name of the account holder, the current address and place of work as well as the physical checking of the UAE ID card or the passport and keeping a copy thereof initialled by the account opening officer under a "true copy of the original."
It is strictly prohibited to open accounts with assumed names or numbers.
The bank should always rely on the account holder's name as in the UAE ID card or the passport or the trade licence in case of juridical persons.
A copy of the UAE ID card or the passport in the case of transactions by individuals initialled by the concerned employee under "a true copy of the original."
Source:Gulf News
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