Central Bank Issues Directive On Customers With Terror Links
By | Published: December 17, 2009
India’s central bank the Reserve Bank of India (RBI) has issued directives to asked all banks to take effective steps to ensure that none of their customers have links with any terror group like the Al-Qaida or the Taliban.
The Reserve Bank of India (RBI) has asked these banks to scan all existing accounts and to ensure that none of the account holders are linked to any of the these terror groups.
In a letter to the chairmen and chief executives of such banks, the RBI also asked them to update their list of account-holders to check for such terror links and follow these guidelines when a person or an entity opens a new account.
“It should be ensured that names of the proposed customer does not appear in the list. Further, banks should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list,” said the letter sent to the banks.
The central bank’s latest directive comes in the wake of a list of entities with terror links sent recently by the UN Security Council to India’s external affairs ministry. It has also been requested to all the banks to update their concerned list accordingly.
Central Bank Issues Directive On Customers With Terror Links
India’s central bank the Reserve Bank of India (RBI) has issued directives to asked all banks to take effective steps to ensure that none of their customers have links with any terror group like the Al-Qaida or the Taliban.
The Reserve Bank of India (RBI) has asked these banks to scan all existing accounts and to ensure that none of the account holders are linked to any of the these terror groups.
In a letter to the chairmen and chief executives of such banks, the RBI also asked them to update their list of account-holders to check for such terror links and follow these guidelines when a person or an entity opens a new account.
“It should be ensured that names of the proposed customer does not appear in the list. Further, banks should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list,” said the letter sent to the banks.
The central bank’s latest directive comes in the wake of a list of entities with terror links sent recently by the UN Security Council to India’s external affairs ministry. It has also been requested to all the banks to update their concerned list accordingly.