Transcription of Guidelines on Electronic Know Your Customer (e-KYC)
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Guidelines on Electronic Know Your Customer (e-KYC)
Page | I Guidelines on Electronic know your Customer (e-KYC) Bangladesh Financial Intelligence Unit 2nd Annex Building, 11th Floor Bangladesh Bank, Motijheel Dhaka-1000. Volume: 01 Dated: December, 2019 Revision date: None II Preface Bangladesh is one of the fastest growing economies in the world and looking forward to transforming itself into a developed economy by 2041. The Sustainable Development Goal (SDG) Agenda -1 (one) emphasizes to put in place a sound policies and gender sensitive development strategies for poverty eradication and Agenda 8(10) of the same urges for capacity building of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all. Financial Action Task Force (FATF), an inter governmental and global standards setting body on combating money laundering and financing of terrorism also encourage jurisdictions to pursue financial inclusion through risk based approach.
The concept of Know Your Customer (KYC) within the financial sector and Designated Non -Financial Business and Professions (DNFBPs) started only few decades back. It has got momentum when FATF came forward with a set of recommendations for prevention of money laundering and financing of terrorism.
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