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Corporate Governance

Compliance

How AfrAsia Bank complies with rules and regulations

AfrAsia is committed to transparency and to compliance with the laws and regulations that govern the Bank’s various activities. We believe that building stakeholder trust requires both compliance and high ethical standards.

Policies and Procedures

As part of the Compliance Plan approved by the AfrAsia Board, we have put a comprehensive risk management system and internal controls into place.

Compliance reviews of departments are conducted on a regular basis. These are submitted to Senior Management, the Compliance Committee, Audit Committee of the Board and the Board of Directors.

The Bank also holds regular meetings with regulators and convenes workgroups on Regulatory Guidelines and other issues.


Compliance team responsibilities

AfrAsia Bank’s Compliance function monitors and oversees:

  • Regulatory compliance and regulatory interaction
  • Anti-money laundering and combatting the financing of terrorism including: Customer Acceptance – Know Your Customer / Customer Due Diligence
  • Transaction monitoring
  • Compliance monitoring and testing
  • Investigation and reporting
  • Fraud identification, investigation and reporting
  • AML training


Compliance with acts and regulations
AfrAsia Bank abides by the guidelines and provisions of:

  • The Mauritius Financial Reporting Council’s Guidelines on Compliance with the Code of Corporate Governance
  • The Bank of Mauritius’ Guidelines on Corporate Governance
  • The Mauritius Companies Act 2001

 Regulatory Body Guidelines
Regulatory Body communiqués, announcements and advice >> 

 

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