OJSC "Commercial Bank KYRGYZSTAN" is constantly working to expand the geography of correspondent relations of the Bank, establishing reliable correspondent relations with banks in Europe, China, Russia and Kazakhstan.

The system of combating the financing of terrorist activities and the legalization (laundering) of criminal proceeds operating in OJSC "Commercial Bank KYRGYZSTAN" is built in accordance with the Law of the Kyrgyz Republic on "Combating the financing of terrorist activities and the legalization (laundering) of criminal proceeds" dated August 6, 2018 No. 87 ( Law of the Kyrgyz Republic on “CFTALCP”), regulations of the National Bank of the Kyrgyz Republic and the State Financial Intelligence Service under the Government of the Kyrgyz Republic.

In accordance with the Law of the Kyrgyz Republic on PF&LPD, the Compliance Control Service was established at Commercial Bank KYRGYZSTAN OJSC, an official responsible for the development and implementation of the internal control system for CFTALCP was appointed, and the “Internal Control Rules to Counteract financing of terrorism (extremism) and legalization (laundering) of proceeds from crime”, approved by the Decision of the Board of Directors No. 30/2 dated September 26, 2018. The set of measures taken by OJSC “Commercial Bank KYRGYZSTAN” within the framework of the limited to the following:

• Identification and verification of clients. The Bank does not open anonymous bank accounts (deposits), bearer bank accounts (deposits) without customer identification;
• Assessment of clients in terms of the risk of involvement in the process of financing terrorist activities and legalization (laundering) of criminal proceeds;
• Identification and investigation of suspicious transactions (transactions), application of targeted financial sanctions, namely, freezing of any transactions (transactions) and (or) funds of individuals and legal entities, groups and organizations included in the Sanctions List of the Kyrgyz Republic and the UN Security Council, and in in respect of which there is information about their participation in terrorist or extremist activities and the proliferation of weapons of mass destruction, and (or) restriction of access (direct or indirect) to such persons, groups and organizations to any funds or financial services;
• Providing, in accordance with the Law of the Kyrgyz Republic on “CFTALCP”, information on operations (transactions) subject to control and reporting to the State Financial Intelligence Service under the Government of the Kyrgyz Republic;
• Development and implementation of training programs for employees in the measures and procedures of the CFTALCP on a systematic basis;
• Establishment of correspondent relations only with those financial and credit institutions that participate in the CFTALCP system. The Bank does not maintain correspondent relations with shell banks and non-resident banks that do not have permanent governing bodies in the countries in which they are registered. The Bank does not provide third parties with access to its correspondent accounts.