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Wednesday, 30 September 2020

Know Your Customer processes: offering security through building mutual trust

At CIB, the security and safety of your savings and personal information is our highest priority. With a robust Know Your Customer framework in place at CIB, our customers’ data and savings are protected. CIB has a strong security system in place that relies on correct and verifiable data, which allows us to protect our clients from the risk of financial crime.

Our KYC framework follows standard international practice for banking institutions, credit companies, and insurance agencies. We ask for detailed information to verify our clients’ identities and protect individuals and companies alike from fraud or corruption.

CIB always ensures its records are current and accurate, which helps us protect you. To reach that goal, we ask that our Wealth clients supplying us with the following documents:

  • A valid National ID (for Egyptian nationals) or valid passport (for foreigners)
  • An HR letter (in the event your employment status has changed)
  • A utility bill (in the event your permanent address has changed)
  • A recent commercial registry (for companies)

In case of any changes in your national ID, passport, or commercial registry details, please visit your nearest CIB branch to submit an original copy of the document(s). (Terms and conditions apply)

This is all possible in a quick and simple process: To update your information at any time, simply watch our illustrative video here, download the form, supply all relevant data, sign at the bottom of all pages, and either submit it to one of our branches or send it by mail to your branch or to P.O. Box 2430 Al Ataba.

For more information: visit the CIB website (pdf).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.