As per the Central Bank of the UAE’s regulations, every bank within the region must maintain valid ID 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. We are required by law to follo2w ‘KYC’ to comply with the Central Bank of the UAE and Anti-Money Laundering (AML) regulations. Per the regulations, all banks need to maintain valid identity documents/information of their customers.
KYC requirements have always been enforced. Banks take 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 the Central Bank of the UAE, all banks must retain valid customer identity documents/information. 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 endeavour to provide you with the best service at all times. However, we may have to limit, restrict or discontinue certain transactions or services. This would be in the absence of valid/updated KYC information and documents. In certain circumstances, we may even have to close your account.
You have the following options available to submit the required documents as per at 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 need 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.