Update the data of customers «mandatory» .. and proving residence in the state is one of the conditions

Banks in the country confirmed that updating the data of customers is a basic and compulsory requirement by the Central Bank, within the “Know your customer” initiative, stressing that the bank has the right to suspend the bank account, prevent the customer from conducting any transactions on it, as well as stopping bank cards of all kinds, if ignored The customer requesting the update for more than a month.

She showed to «Emirates Today» that among the basic requirements is a valid identity card, as well as a good passport, and the residence visa for non -citizens, as well as proving “residence” in the UAE, through a documented rental contract or facilities bills, or the bank account statements for another Three months, or a salary certificate from the authority in which he works.

She pointed out that these requirements apply to all dealers without discrimination and include citizens and residents alike.

This came, commenting on complaints received by «Emirates Today» from dealers regarding the strict banks in the documents required to update their data, and their multiplicity more than before.

They pointed out that the banks in the past were satisfied with the Emirati identity and the passport, in addition to a valid residence for non -citizens, while filling out a model that includes the phone number and the address of the housing, but now, in addition to that the banks request a documented rental contract, a salary certificate from the employer, and electricity services bills Water, as well as the obligation to visit the branch and provide documents manually.

For its part, banks sent to «Emirates Today» the requirements in force in accordance with the instructions of the central bank during the recent period, in which a text stated that “all banks must keep documents and information in effect for those dealing with them at all times, and this matter helps the bank to know Understanding dealers and financial dealings to be able to serve them better and manage risk with greater wisely.

In his instructions, the Central added that for individuals, the latest Emirati identity card, passport, residence visa, and establishment of residency in the UAE (utilities or other bank account lists for the last three months) must be available, and the personal statement of the tax compliance with the account Foreign “Fatka”.

As for the bodies, organizations and companies, the data update must be available for the Emirati ID cards for all shareholders of share by 5% or more, and passports for all shareholders of share by 5% or more, and residence visas for all shareholders by 5% or more, and proving the work address in the Emirates ( Facilities bills or other bank account lists for the last three months), commercial license and establishment certificate, contract and statute of the company, the decision of the Board of Directors to open an account, and to define those who have the authority to manage this account, and the personal statement of the tax compliance with the foreign account «Fateka».

The update requirements also included the customer’s confirmation and his pledge that the information provided is correct and complete, and that his failure to provide complete information can affect access to banking services and its accounts, as it pledges that the bank does not hold any responsibility as a result of the interruption of services due to the incomplete or inaccurate information it provided.

• The update requirements apply to all dealers without discrimination, and include both citizens and residents.