As per the Central Bank of the UAE’s regulations, every bank within the region must maintain valid identification documents and information. This requirement allows us to understand you better and serve you to a higher standard at all times.
Frequently Asked Questions
KYC (Know Your Customer) is a process by which banks obtain information about the identity and address of the customers. The KYC process helps to ensure that the banks’ services are not misused. As a financial institution, we are required by law to follow ‘KYC’ in order to be complaint with the Central Bank of the UAE and Anti-Money Laundering (AML) regulations. As per the regulations, all banks need to always maintain valid identity documents / information of their customers.
KYC requirements have always been enforced and banks have been taking KYC documents in accordance with the guidelines issued by the Central Bank of the UAE from time to time.
As per the regulations set by Central Bank of the UAE, all banks need to maintain valid identity documents/information for their customers, at all times. This helps the banks know their customers and their financial dealings to be able to serve them better and manage risks prudently.
As a bank, we endeavor to provide you with the best service at all times. However, we may have to limit, restrict or discontinue certain transactions or services in the absence of valid/updated KYC information and documents. In certain circumstances, we may even have to close your account.
You have following options available to submit the required documents as per your convenience:
We review our customers' records on an ongoing basis. We will get in touch with you, if your KYC document(s) need to be updated in the future. The KYC documents needs to be updated when ID documents expire.
You need to submit KYC documents in order to reactivate your account.
Please get in touch with your Branch or Relationship Manager to initiate the process.
Once the documents have been submitted, processing will be completed within 1 to 2 working days.