Compliance and Commitment

Compliance

Compliance and Commitment

The compliance and AML sector is responsible for ensuring the institution remains compliant, it is to ensure the bank functions within regulation, thus preserving its integrity and reputation in the industry. Compliance protects the bank from the risk of regulatory fines, material financial losses, and crimes. It also provides substantial benefits, such as constructive communication, improving business practices, and a better understanding of the regulatory environment.

Compliance and commitment function that aims:

  • To ensure the applying of policies, procedures, and regulations as well as the Relatively advanced and effective tools and regulatory mechanisms.
  • To ensure that these policies are in accordance with Local Laws, International Resolutions, and current Regulatory rules.
  • working on monitoring and following the commitment of the bank (including all staff, branches, and units) to Ensure that they are applying these policies in order to:
    • Avoid being sanctioned (Local or International sanctions) as a result of nonapplying to the polices and Laws, and also to counter any risk to happen through our bank by using it in illegal or suspicious operations, especially financial crimes, including money laundering and the financing of terrorism.
    • Compliance and commitment are the main objective and responsibility of all employees in Al Baraka Bank, as it is not limited to a specific job role or particular manager or specific department, So Compliance sector must be independent from any other executive banking duties, as it is considered as a one of the internal regulation sectors. It works with the inspection, internal control, and risk sectors in the bank.
  • Al Baraka Bank became a FATCA Participant.
  • Our (GIIN) is: 86IIBW.00014.ME.818
  • Date of Registration: 23-4-2014
  • Al Baraka Bank Egypt HEAD OF Compliance & AML sector are: Mr. Emad Mohamed Shalaby
  • Al Baraka Bank Egypt HEAD OF Compliance department are: Mr. Hany Medhat
  • Al Baraka Bank Egypt LEI No. 213800OBAOQMPIVGQ80
  • For further information please contact us on +2 (02) 25860520