The Presidents/Chief Executives
Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulations : Annexure – I
Please refer to Annexure-I to the AML/CFT Regulations which requires banks/DFIs to obtain photocopies of identity documents of all the directors and persons authorized to open and operate the account while establishing banking relationship with Limited Companies/ Corporations.
2. It is clarified that the condition of obtaining photocopies of identity documents of directors of Limited Companies/Corporations is relaxed in case of Government/Semi Government entities, where banks/DFIs should obtain photocopies of identity documents of only those directors and persons who are authorized to open and operate the account. However, banks/DFIs shall validate identity information including CNIC numbers of other directors from certified copies of ‘Form-A/Form-B’ and ‘Form 29’ and verify their particulars through NADRA Verisys. The Verisys reports should be retained on record in lieu of photocopies of identity documents.
3. The above is being updated as Note: 9 of Annexure-I to AML/CFT Regulations.
4. Please acknowledge receipt.
Encls: Updated AML/CFT Regulations