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Location: Central Bank of Bahrain Volume 1—Conventional Banks > Part A > Business Standards > FC Financial Crime > FC-7 Record-Keeping > FC-7.1 General Requirements > CDD and Transaction Records > FC-7.1.1
  • CDD and Transaction Records

    • FC-7.1.1

      Conventional bank licenseesG must comply with the record-keeping requirements contained in the AML Law. Conventional bank licenseesG must therefore retain adequate records (including accounting and identification records), for the following minimum periods:

      (a) For customers, in relation to evidence of identity and business relationship records (such as application forms, account files and business correspondence, including the results of any analysis undertaken (e.g. enquiries to establish the background and purpose of complex, unusual large transactions)), for at least five years after the customer relationship has ceased; and
      (b) For transactions, in relation to documents (including customer instructions in the form of letters, faxes or emails) enabling a reconstitution of the transaction concerned, for at least five years after the transaction was completed.
      Amended: October 2014
      October 07

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