In the light of the recent developments in the banking sector and especially greater focus on the role of Compliance
BLOM BANK Egypt realizes that the compliance regulations are the pillar for the correct management and good standing within the banking sector. Therefore, compliance is considered of high importance.
The Compliance Sector's aim is to reduce potential risks that the bank might be exposed to, which may result from the breaching of local or international laws. This could be achieved through effective implementation of compliance role. Training courses are given to employees in order to be aware of their responsibility towards the bank, under the slogan “Compliance is everyone’s responsibility”.
BLOM Bank Egypt complies with the recommendations of the Financial Action Task Force (FATF), Wolfsberg principles for combating money laundering, Basel Committee and the Egyptian law for combating money laundering and the financing of terrorism, and the application of “know your customer” principles in addition to customer due diligence procedures.
In order to ensure the independence of the Compliance sector, periodic reports are presented directly to the Board of Directors and Audit Committee.
AML Wolfsberg QuestionnaireCBE LicenseUSA Patriot Act