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Compliance

The problem of countering the financing of the terrorist organizations and legalization (laundering) of the monetary funds, gained through criminal activity has become one of the main global scale problems in the past 25-30 years. The global community has assumed a row of measures on countering this problem that has grown to such an international scale that can easily destroy both a single financial institution and the financial structure of an entire state.

CJSC “Bank of Asia” in its work is guided by the Law of the Kyrgyz Republic on “Countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds” #87 dated 08/06/2018, and is also guided by the normative legal acts of the National Bank of the Kyrgyz Republic and the State Service on Financial Intelligence.

The Bank of Asia does not establish or maintain relations with non-resident banks that do not have permanent governing bodies in the territories of the states in which they are registered. Also, does not open anonymous (depersonalized) accounts.

Purpose and objectives of compliance:

  • Reduce the risk of violations of law and damage to the Bank's reputation, as well as ensure the safety of customer funds;
  • Organization of the Bank's internal control system to prevent the possibility of using the Bank services for financing terrorism and laundering of criminal proceeds;
  • Develop and implement internal control policies, appropriate procedures and other internal organizational measures for AML/CTF;
  • Carry out regular analysis programmes on the compliance of the Bank system with relevant laws and regulatory acts.

Contact details of the Compliance Control Service:

Tel.: +996 (312) 554779

E-mail: compliance@bankasia.kg

*AML/CTF –   Anti Money Laundering and Countering Terrorism Funding