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CBB Rulebook: Contents

  • Common Volume
  • Central Bank of Bahrain Volume 1—Conventional Banks
    • Part A
      • Introduction
      • High Level Standards
      • Business Standards
        • BC Business and Market Conduct
        • CA Capital Adequacy
        • CM Credit Risk Management (Effective June 2022)
        • OM Operational Risk Management
        • FC Financial Crime
          • FC-A Introduction
          • FC-B Scope of Application
          • FC-C: Risk Based Approach
          • FC-1 Customer Due Diligence Requirements
            • FC-1.1 General Requirements
              • Verification of Identity and Source of Funds
                • FC-1.1.1
                • FC-1.1.2
                • FC-1.1.2A
                • FC-1.1.2B
                • FC-1.1.2C
                • FC-1.1.3
                • FC-1.1.4
              • Verification of Third Parties
              • Anonymous and Nominee Accounts
              • Timing of Verification
              • Companies under Formation
              • New Arrivals
              • Incomplete Customer Due Diligence
              • Non-Resident Accounts
            • FC-1.2 Face-to-face Business
            • FC-1.3 Enhanced Customer Due Diligence: General Requirements
            • FC-1.4 Enhanced Customer Due Diligence: Non face-to-face Business and New Technologies
            • FC-1.5 Enhanced Customer Due Diligence: Politically Exposed Persons ('PEPs')
            • FC-1.6 Enhanced Due Diligence: Charities, Clubs and Other Societies
            • FC-1.7 Enhanced Due Diligence: 'Pooled Funds'
            • FC-1.8 Enhanced Due Diligence for Correspondent Banking Relationships
            • FC-1.9 Introduced Business from Professional Intermediaries
            • FC-1.10 Shell Banks
            • FC-1.10A Enhanced Due Diligence: Cross Border Cash Transactions by Courier
            • FC-1.11 Simplified Customer Due Diligence
            • FC-1.12 [This Section has been deleted and moved to the CBB Regulatory Sandbox Framework in January 2022]
            • FC-1.13 Reliance on Third Parties for Customer Due Diligence
          • FC-2 AML / CFT Systems and Controls
          • FC-3 Money Transfers and Alternative Remittances
          • FC-4 Money Laundering Reporting Officer (MLRO)
          • FC-5 Suspicious Transaction Reporting
          • FC-6 Staff Training and Recruitment
          • FC-7 Record-Keeping
          • FC-8 NCCT Measures and Terrorist Financing
          • FC-9 Enforcement Measures
          • FC-10 AML / CFT Guidance and Best Practice
        • TC Training and Competency
        • ICCAP Internal Capital Adequacy Assessment Process
        • ST Stress Testing
        • DSIBs Domestic Systemically Important Banks
        • RR Reputational Risk Management
        • LM Liquidity Risk Management
        • DA Digital Finance Advice
      • Reporting Requirements
      • Enforcement & Redress
    • Part B
    • Quarterly Updates
    • Ad-hoc Communications
    • Archived Part A
    • Archived Part B
  • Central Bank of Bahrain Volume 2—Islamic Banks
  • Central Bank of Bahrain Volume 3—Insurance
  • Central Bank of Bahrain Volume 4—Investment Business
  • Central Bank of Bahrain Volume 5—Specialised Licensees
  • Central Bank of Bahrain Volume 6—Capital Markets
  • Central Bank of Bahrain Volume 7—Collective Investment Undertakings
  • Bahrain Bourse (BHB) Material
  • Central Bank of Bahrain and Financial Institutions Law 2006
  • Bahrain Anti Money Laundering Law 2001
  • Regulation Governing Collective Investment Schemes June 2003
  • Bahrain Stock Exchange Law 1987
  • Bahrain Financial Trust Law 2006
  • Bahrain Insurance Law 1987
  • Bahrain Monetary Agency Law 1973
  • Commercial Companies Law 2001
  • CBB Disclosure Standards
  • CBB Debt Securities Guidelines
  • Ministerial Order — Money Laundering
  • CBB Resolution on Dissemination of Listed Companies' Financial Statements and Board of Directors' Meetings
  • CBB Regulations and Resolutions
  • The Corporate Governance Code of the Kingdom of Bahrain
  • Archive
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Breadcrumb

  1. Central Bank of Bahrain Volume 1—Conventional Banks
  2. Part A
  3. Business Standards
  4. FC Financial Crime
  5. FC-1 Customer Due Diligence Requirements
  6. FC-1.1 General Requirements
  7. Verification of Identity and Source of Funds
  8. FC-1.1.1
  Versions

 
  • Oct 01 2007 - Sep 30 2014
  • Oct 01 2014 - Dec 31 2019
  • Jan 01 2020
‹ Verification of Identity and Source of Funds FC-1.1.2 ›

FC-1.1.1

Conventional bank licensees must establish effective systematic internal procedures for establishing and verifying the identity of their customers and the source of their funds. Such procedures must be set out in writing and approved by the licensee's senior management and must be strictly adhered to.

Amended: January 2020
Amended: October 2014
October 07
‹ Verification of Identity and Source of Funds FC-1.1.2 ›

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