Azizi Bank selects Refinitiv’s World-Check to enhance its AML compliance program

Source: Refinitiv 2020-04-09

Azizi Bank, the largest commercial bank in Afghanistan, has selected

Afghanistan has made continuous progress in improving its AML and Combating the Financing of Terrorism (CFT) regime. The country has established a strong regulatory framework to meet its international commitments in the area of AML, and as development projects emerge, Azizi Bank has been playing a vital role in the reconstruction of Afghanistan. The bank is the highest lender in the country and contributes to almost 33% of loan disbursed in the economy.

“As we expand our commercial activities and service wider client segments, our partnership with Refinitiv will strengthen our compliance program. We have an aggressive policy for financial inclusion and already support financing of mega infrastructure plans across the country including power projects, road construction and industrial plants,” said Mohammad Salem Omaid, CEO and President, Azizi Bank and Chairman of Afghanistan Banks Association.

“We have a strong corporate governance structure within Azizi Bank and our compliance division is in direct contact with FIU called as Fin TRACA (Financial Transactions and Reports Analysis Centre of Afghanistan) and the Da Afghanistan Bank (Central Bank of Afghanistan). Our partnership with Refinitiv comes in line with Azizi Bank’s vision to equip the bank’s compliance practice with smart technologies. We believe that automating compliance management systems will support our compliance program. These efforts will enhance our effectiveness, minimize conduct risk, enhance transparency and help us focus on combating AML/CFT as we work closely with regulators to implement existing and new AML/CFT laws in Afghanistan,” he added.

“We’re pleased to work with Azizi Bank and support their AML efforts. As the banking sector adapts to new market changes in Afghanistan, it’s critical for financial institutions to deploy advanced compliance technologies and reliable data to fight financial crime. These efforts prevent the entrance of crime related proceeds into the banking system and eventually protects the financial system from criminal activities,” said Nadim Najjar, Managing Director, Middle East and Africa, Refinitiv.

Refinitiv’s World-Check Risk Intelligence database delivers accurate and reliable data that assists clients in their decision-making process. It has hundreds of specialist researchers and analysts across the globe, adhering to the most stringent research guidelines as they collate information from reliable and reputable sources - such as watch lists, government records, and media searches.

Azizi Bank selects Refinitiv’s World-Check to enhance its AML compliance program

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