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FC-1.12.12

Past version: Effective from 01 Oct 2017 to 31 Dec 2021
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Where no face-to-face contact takes place, Islamic Bank licensees must take additional measures in order to mitigate the potentially higher risk associated with such business. In particular, Islamic Bank licensees must take measures:

(a) To ensure that the customer is the person they claim to be (this can be done through video conferencing); and
(b) To ensure that the address provided is genuinely the customer's.
Added: October 2017