Compliance
Compliance with regulatory, internal guidelines, and international standards is one of the critical objectives of FMFB-A. The Board and Senior Management are committed to sticking to the highest regulatory and internal guidelines standards. This ensures that the Bank’s operations are conducted within the range of legality and the broader integrity and ethical conduct standards.
Enforcing strict compliance allows FMFB-A to detect and stop violations of laws, regulations, and internal policies, protect the integrity of its shareholders, employees, and customers, treat customers fairly, earn trust and credibility, and save itself from unnecessary regulatory penalties.
The Compliance Department of FMFB-A acts according to regulatory, International Standards and the Bank’s policies oversee compliance aspects and manages compliance risks the Bank faces. Particularly, the department has the responsibility to implement guidelines on the compliance programs of the bank, Know-Your-Customer (KYC), Anti Money Laundering (AML), Combating Terrorist Financing (CTF), training and reporting. For better compliance with AML/CFT Laws, regulations, and international standards, FMFB-A implements the following systems:

Financial Crime and Compliance Management (FCCM)for Monitoring and profiling
FMFB-A has acquired and implemented efficient profiling and transaction monitoring system (Oracle FCCM solutions for AML/CFT and KYC), which is competent to automatically assess customers’ risk and alert the pre-defined risk-based scenarios.

LexisNexis® Risk Solutions/Accuity for Sanction Screening
FMFB-A has installed a compliance sanction screening software (Compliance Link) of LexisNexis® Risk Solutions/Accuity. LexisNexis® Risk Solution’s sanction screening solution is provided through Compliance Link, which is designed to streamline the bank’s screening processes. Compliance Link offers automated, real-time, and batch screening of customers and transactions against numerous public sanction lists such as UN Sanctions, OFAC Sanctions, etc.