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: