About The Bank

Anti-money laundering/countering the financing of terrorism

Open Joint Stock Company “Dos-Credobank” in accordance with the regulations of the Law of the Kyrgyz Republic “On anti-money laundering/countering the financing of terrorism” dated August 6, 2018 No. 87 and the regulations of the National Bank of the Kyrgyz Republic in order to exercise internal control in the field of anti-money laundering/countering the financing of terrorism, has developed an internal control policy and rules concerning the anti-money laundering/countering the financing of terrorism.

In order to prevent the possibility of using services of OJSC “Dos-Credobank” for money laundering/terrorism financing, the internal control system has been created in the Bank in accordance with the requirements of:

• Law of the Kyrgyz Republic “On anti-money laundering/countering the financing of terrorism” dated August 6, 2018 No. 87;
• Constitutional Law of the Kyrgyz Republic “On the National bank of the Kyrgyz Republic” dated August 11, 2022 No. 92
• Law of the Kyrgyz Republic “On banks and banking activities” dated August 11, 2022 No. 93.
• Regulations of the National Bank of the Kyrgyz Republic “On the minimum requirements for the organization of internal control in commercial banks for the purpose of anti-money laundering/countering the financing of terrorism” dated 14.08.2019. No. 2019-P-12\42-1-(NPA);
• Resolution of the Board of the National Bank of the Kyrgyz Republic No. 13/2 dated April 16, 2003 “On establishing requirements for determining entities and a list of offshore zones”,
• Regulations “On general requirements to internal control program”, approved by the Government of the KR dated 25.12.2018. No. 606;
• Instructions for working with bank accounts, deposit accounts approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated 31.10.2012. No. 41/12;
• Regulations “On the procedure for providing information and documents to the financial intelligence body of the Kyrgyz Republic”, approved by the Decree of the Government of the KR dated 25.12.2018. No. 606;
• Regulations “On the procedure for conducting customer due diligence”, approved by the Decree of the Government of the KR dated 25.12.2018. No. 606;
• Regulations “On the procedure for suspending an operation (transaction), freezing and unfreezing an operation (transaction) and (or) funds, providing access to hold funds and managing hold funds”, approved by the Decree of the Government of the KR dated 25.12.2018. No. 606;
• Regulations “On the lists of individuals and legal entities, groups and organizations in respect of which there is information about their participation in terrorist and extremist activities, proliferation of weapons of mass destruction and legalization (laundering) of criminal proceeds”, approved by the Decree of the Government of the Kyrgyz Republic dated 25.12.2018. No. 606;
• FATF Recommendations (International Standards on combating money laundering, the financing of terrorism and the financing of the proliferation of weapons of mass destruction), February 2012;
• Moreover taking into account the Recommendations of the Basel Committee on Banking Supervision on the organization of the compliance function in banks.

OJSC “Dos-Credobank” has appointed an official responsible for the organization of internal control for the purpose of anti-money laundering/countering the financing of terrorism, and for      carrying out of programs for their implementation, Bank has also developed internal regulatory documents:

1. The internal control in policy of OJSC “Dos-Credobank” for the purpose of anti-money laundering/countering the financing of terrorism.

2. Rules of internal control in OJSC "Dos-Credobank" for the purpose of anti-money laundering/countering the financing of terrorism, which include the following procedures:

• Identification and verification of a client and beneficial owner;
• Risk assessment of a client performing operations (transactions) related to terrorist activities and legalization (laundering) of criminal proceeds;

3. Identification in the client’s activities of transactions that have signs of suspicious transactions, as well as other transactions directly related to terrorist activities and legalization (laundering) of criminal proceeds;

4. Information check about a client or operation (transaction) of a client, beneficial owner to confirm the validity of suspicions of terrorist activities and legalization (laundering) of criminal proceeds:

5. Documentary recording of the information specified in Article 21 of the Law of the Kyrgyz Republic “On AML/CFT”;

6. Storage of information and documents obtained as a result of the implementation of the internal control rules;

7. Staff training in the field of anti-money laundering/countering the financing of terrorism;

8. Refusal by the Bank for servicing and execution of the client’s orders on the execution of the operation (transaction);

9. The procedure for suspending a transaction, freezing and unfreezing a transaction and (or) funds, providing access to hold funds and managing hold funds;

10. Organization of internal control system;

11. “Know your client” policy of OJSC “Dos-Credobank”;

12. The procedure for providing information by OJSC “Dos-Credobank” to the authorized body provided for by the Law of the Kyrgyz Republic on AML/CFT;

13. Training program for employees of OJSC “Dos-Credobank” on AML/CFT.

OJSC “Dos-Credobank”:

• does not open or maintain anonymous bank accounts (deposits), bearer accounts (deposits), without identifying customers in accordance with the internal regulations and other regulatory legal acts of the Kyrgyz Republic.
• does not establish correspondent relations with banks that are registered in offshore zones.
• does not establish correspondent relations with shell banks.