Alma Finance Bank CJSC (hereinafter referred to as the Bank), in its pursuit of a stable and mutually beneficial partnership, informs you of the following.
The Bank's policy in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds
The Bank carries out its activities in compliance with the requirements of the legislation of the Kyrgyz Republic, as well as being guided by the best practices of international financial institutions in the field of combating the financing of criminal activities and the legalization (laundering) of criminal proceeds in accordance with:
- The Law of the Kyrgyz Republic "On Combating the Financing of Criminal Activity and the Legalization (Laundering) of Criminal Proceeds."
- Resolution of the Government of the Kyrgyz Republic on measures to implement the Law of the Kyrgyz Republic "On combating the financing of criminal activity and the legalization (laundering) of criminal proceeds."
- Regulation of the National Bank of the Kyrgyz Republic “On minimum requirements for the organization of internal control in commercial banks in order to combat the financing of criminal activity and the legalization (laundering) of criminal proceeds.”
- Recommendations of the intergovernmental organization for the development and implementation of international standards to combat money laundering and the financing of terrorism (FATF).
- Recommendations of the Basel Committee on Banking Supervision on the organization of the compliance function in banks.
To maintain a strong business reputation and reliable partnerships, the Bank implements a range of compliance measures aimed at identifying and mitigating risks associated with the financing of criminal activity and the legalization (laundering) of criminal proceeds:
- Development and implementation of internal policies, rules and procedures to combat the financing of criminal activities and the legalization (laundering) of criminal proceeds.
- Establishment of a separate compliance unit responsible for the implementation and enforcement of internal control rules within the framework of compliance risk management, including risks of financing criminal activity and legalization (laundering) of criminal proceeds.
- Due Diligence, including enhanced measures for high-risk clients.
- Monitoring transactions to identify unusual, suspicious and economically unjustified transactions.
Compliance and Sanctions Policy
Implementing an effective compliance control system is one of the key objectives of Alma Finance Bank's internal control system, ensuring its sustainable development. The Bank's compliance procedures are developed comprehensively, taking into account both national legislation and generally accepted international practices.
To manage conflicts of interest, the Bank adheres to the principles of openness and responsibility, ensures equal and fair treatment of all clients and partners, and takes the necessary measures to prevent the influence of personal interests on the Bank's activities and decisions.
The main areas of compliance control activity at the Bank:
- implementation of internal control over the Bank’s compliance with rules, regulations and standards;
- coordination and participation in the development of a set of measures aimed at reducing compliance risks in the Bank, including when establishing correspondent relations with other banks;
- participation in the development of compliance procedures and internal documents of the Bank in areas of activity, including combating commercial bribery and corruption, as well as compliance with the rules of corporate conduct and standards of professional ethics;
- monitoring the Bank's compliance with the international sanctions regime when conducting operations.
The Bank's FATCA Policy
In the context of implementing measures in accordance with the US Foreign Account Tax Compliance Act (hereinafter referred to as FATCA), Alma Finance Bank CJSC is registered with the Internal Revenue Service with the status of a participating financial institution.
The bank has been assigned an individual participant identification number (GIIN).