Compliance Policy
Al Marri Exchange and Remittances Company is a financial company that provides various exchange and remittance services and financial and banking services of a contemporary and distinctive nature.
Al Marri Exchange and Remittances operates in the field of exchange business inside and outside Yemen within a banking network that is characterized by expertise, efficiency, speed and safety, and has extensive business relationships and companies in money transfer services
The company is committed to conducting its activity to the requirements of compliance with all laws, instructions and rules in force in the area of (money laundering and terrorist financing). Guide to Anti-Money Laundering and Terrorist Financing and Anti-Fraud Policies and Procedures and Implementing the "Know Your Customer" Principle.
Al-Marri Exchange and Remittances issues a guide to its policies and procedures to combat money laundering and terrorist financing, and the implementation of these policies and procedures approved by the decision of the Board of Directors described in this guide applies.
The company is keen to adhere to the regulations and instructions issued by the Central Bank of Yemen on combating (money laundering, terrorist financing and combating fraud) within the company’s branches, and it is also keen to practice its activity only with customers Those who enjoy a good reputation, and practice legitimate business activities with funds drawn from legitimate sources.
In this context, the company took a series of steps to ensure commitment to combating money laundering and terrorist financing, the most important of which are:
- Compliance with all applicable laws and regulations prohibiting (money laundering, support, and financing of terrorism) and this requires reporting suspicious operations.
- Establishing a compliance unit, appointing qualified and experienced cadres and subjecting them to training in the field of AML / CFT.
- The companys procedures regarding the principle (know your customer) and I am keen to collect and understand the documents related to clients and potential agents to ensure that they are doing legitimate business activities, and that their money came from legitimate sources.
- The company has imposed on all its affiliates a perusal of the procedures manual carefully and in order to comply with the procedures and measures it contains that require the employee in the company to know his responsibilities and duties required of him to fully perform his role in combating money laundering and terrorist financing within the scope of his job. >