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Anti-Money Laundering Declaration

Name : InvestBank P.S.C
Central Bank of the UAE License No. :  13/208/96
Commercial Registration No. : 61581
Place of Registration : Sharjah, U.A.E

Invest Bank PSC (Bank) was established in 1975 in the Emirates of Sharjah and is a public shareholding company. Banks shares are listed on the Abu Dhabi Securities Exchange. Bank operates under the license from the Central Bank of the United Arab Emirates (UAE). Central Bank of the UAE is the regulatory and supervisory authority for banks and financial institutions in the country.


UAE Central Bank has issued number of regulations to combat the money laundering activities. On the national level, the Federal Government of the UAE has issued lately the Federal Decree Law No. (20) of 2018 on Anti Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations. To ensure a proper Implementation of the said Federal Decree Law, the Government has issued the Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation of Decree Law No. (20) of 2018 on Anti Money Laundering and Combating the Financing of Terrorism and Illegal Organizations.


The aim of this is to combat the money-laundering and establish a legal framework that supports and strengthens the efforts of the relevant authorities in the nation in countering money-laundering and related crimes. The law also counters financing of terrorist operations and suspicious organizations, which enhances the UAEs commitment to international recommendations and treaties.


Guided by these rules and regulations and as well as Basel Committee on Banking Supervision's guidelines on Customer Due Diligence, the Bank has reviewed, updated, developed and implemented anti-money laundering, CFT and Sanctions policies and procedures including the Know Your Customer Policy. The policies and procedures undergo constant review for improvement. A regular training program is in place to maintain on-going awareness of all concerned staff members on red flags, risks, STR/SAR and preventive measures.


In conducting transactions, the Bank makes all reasonable efforts to ascertain and verify the identity of the parties and genuineness of the financial transactions. Suspicious transactions and/ or activities are dealt with appropriately in accordance with rules and regulations.


In accordance with these policies, the Bank does not deal with shell banks (as defined under the US Patriot Act) within and outside the United Arab Emirates.


The Bank is committed to comply with FATCA and CRS Regulations and to cooperate fully with the local authorities and regulators to detect and combat money-laundering practices in the country. UAE is a member of GCC (Gulf Cooperation Council) that is in turn a member of the Middle East North Africa Financial Action Task Force (MENAFATF).


Further inquires on this matter should be addressed to:


Mr. Charbel Bou Chebel, Chief Compliance Officer
Fax: +971 6 5697738
Email: charbel.chebel@investbank.ae