KYC in Turkmenistan and Uzbekistan
SWIFT's
Banks in Uzbekistan and Turkmenistan are going to use a centralized repository, known as Swift’s Know Your Customer (KYC) Registry. This system improves core system processes of these banks to maintain a standardized set of information about correspondent banks, funds distributors and custodians required for due diligence processes.
EBI News, The banks who signed up for this inclusion are:
In Turkmenistan: Halkbank, Bank Senagat, State Bank for Foreign Economic Affairs of Turkmenistan, Presidentbank, Bank Garagum, Bank Turkmenbashi, Bank Turkmenistan, Turkmen Turkish Bank, National Bank of Pakistan;
In Uzbekistan: Agrobank, Bank Asaka, Asia Alliance Bank, Infinbank, Aloqabank, Hamkorbank, Bank Ipak Yuli, National Bank for Foreign Economic Activity of the Rep. Uzbekistan, Davr Bank, Qishloq Qurilish Bank, Xalq Bank of the Republic of Uzbekistan, Trustbank, Uzbek Industrial and Construction Bank.
Swift now run this program in 3,500 banks through 200 countries around the globe to standardize KYC management and demonstrate compliance with anti-money laundering (AML) and counter terrorist financing (CTF) requirements.