Anti-Money Laundering
(AML) Policy

Introduction:

This Anti-Money Laundering (AML) Policy outlines the commitment of QAMAR Investment Bank Limited to combat money laundering and terrorist financing activities. As an institution regulated by the Anjouan Offshore Finance Authority, we adhere to the highest standards of integrity and compliance with applicable laws and regulations.

 

Policy Statement:

QAMAR Investment Bank Limited is fully committed to preventing its services from being used for illicit activities, including money laundering, terrorism financing, or any other criminal activity. We have implemented a robust AML program designed to detect, prevent, and report suspicious transactions in accordance with the regulations set forth by the Anjouan Offshore Finance Authority.

 

Key Principles:

​

1. Customer Due Diligence (CDD):

We conduct thorough customer due diligence procedures when establishing business relationships or conducting occasional transactions. This includes verifying customer identities through reliable sources and assessing their risk profiles based on factors such as nature of business, source of funds/assets, and geographic location.

 

2. Enhanced Due Diligence (EDD):

For higher-risk customers or transactions that warrant additional scrutiny based on our risk assessment process, we apply enhanced due diligence measures. This may include obtaining additional information/documentation or conducting ongoing monitoring of these relationships.

 

3. Record Keeping:

We maintain comprehensive records of all customer identification documents, transaction details, correspondence records, and any other relevant information as required by applicable laws and regulations.

 

4. Reporting Suspicious Transactions:

Our employees are trained to identify red flags associated with suspicious activities promptly. Any suspicions regarding money laundering or terrorism financing are reported internally through designated channels within QAMAR Investment Bank Limited. We cooperate fully with law enforcement agencies as required under applicable legislation.

 

5. Compliance Officer:

We have appointed a dedicated Compliance Officer responsible for overseeing our AML program's implementation and ensuring adherence to regulatory requirements at all times.

 

6. Ongoing Training & Awareness:

We provide regular training to our employees to enhance their understanding of AML regulations, emerging risks, and best practices. This ensures that they remain vigilant in detecting and preventing potential money laundering activities.

 

7. Independent Audits:

Periodic independent audits are conducted to assess the effectiveness of our AML program, identify any gaps or weaknesses, and implement necessary enhancements.

 

Conclusion:

QAMAR Investment Bank Limited is committed to maintaining a strong culture of compliance with AML regulations set forth by the Anjouan Offshore Finance Authority. We continuously review and update our policies and procedures to adapt to evolving risks and regulatory requirements. By doing so, we aim to protect the integrity of our institution while contributing towards global efforts in combating financial crime.

 

For any inquiries or concerns related to this AML Policy or suspicious transactions, please contact our Compliance Officer at compliance@qamarbank.com.

 

QAMAR Investment Bank Limited 

Mutsamudu, The Autonomous Island Of Anjouan,

Comoros Union