The Commercial International Bank activities are regulated by the Central Bank of Egypt (CBE)
CIB complies with the FATF recommendations, Wolfsburg AML principles for Private Banking Clients & Correspondent Banks, and Basel Committee requirements.
CIB is subject to the prevailing law established in Egypt to combat money laundering and terrorist financing and to regulate 'Know Your Client' and Customer Due Diligence principles.
CIB applies reasonable measures to obtain information that reveals the true identity of clients in order to assure legitimate activities. CIB has set written policies and procedures to combat money laundering and terrorist financing.
The Bank ensures providing efficient training for all its employees to raise awareness on money laundering and assist them to identify any unusual or suspicious activity.
The Bank policies prohibit opening accounts for Shell Banks that do not maintain physical presence in any country.
CIB has established written policies for reporting suspicious unusual transactions to the appropriate authorities.
CIB maintains proper documentation and correspondences on client's identification and account files for at least five years after the completion of any transaction or closure of the account.
CIB conducts Audit and Compliance reviews to measure the adequacy of applied Anti Money Laundering policies and procedures.
The Bank reports any identified suspicious activities to the CBE Money Laundering Combating Unit, and cooperates to furnish authorities with required data and documentation
Click here to fill out our Questionnaire
Click here to view the Code of Conduct