What are the customer identification procedures?

1 year ago
Banking

Customer identification/verification means identifying the customer and verifying his/her 
identity by using reliable, independent source documents, data or information to the Bank's 
satisfaction and also to satisfy the independent authorities that the due diligence was observed 
based on the risk profile of the customer in compliance with the extant guidelines in place.
While identifying the natural person or legal person, the bank shall obtain the documents, data 
and information as mentioned below. All the documents and information pertaining to the 
identification of the natural and legal person shall be retained in a legible manner and in the 
managed way. 

Natural Person/s
1. Legal name;
2. Permanent and current mailing address;
3. Mailing address of current working organization;
4. Date of birth and gender;
5. Full name of Father and Mother;
6. Nationality;
7. In case of Nepalese citizen, Citizenship copy or Election voting identification card or driving 
license or Passport number with issued date, issued place and expiry date;
8. In case of those Nepalese citizens who have not obtained the citizenship certificates, 
recommendation letter issued by the local government.
9. In case of foreign nationals, passport number, issued date issued place and validity;
10. In case of Indian citizens who do not have passport, legal certificate verifying Indian citizenship 
with certificate number, issued date, issuing authority and place;
11. In case of the refugee, identity card issued by government and international authorities with 
identity number, issued and expiry date and issued place.
Legal Person/s
1. Name of the legal person/s;
2. Detail information of registered address or business address with phone number, email address, 
website or other mailing address, if any;
3. Legal entity and nature of business;
4. Registration certificate, license, certificate to commence business, renewal certificate with issued 
date, expiry date, issuing authority and issuing country;
5. Registration and approval certificate of business, if any, required as per the nature of the entities;
6. Permanent Account Number (PAN) certificate;
7. Personal details of Board of Directors or Management Committee or such higher level 
committee if any;
8. Personal details of proprietor or partners or shareholders subscribing 10% or more shares of the 
company;
9. Personal details of account operator and
10. In case a company holds 10% or more shares of another company, personal details of 
shareholders subscribing 10% or more shares of the former company. 
Legal arrangement:
1. Name of legal arrangement, main objectives and functions;
2. Registration or incorporation certificate, country of its operation and its address, contact number, 
email, website or any other detail contact address;
3. Approval certificate or License and approval letter for transaction, renewal certificate, date of 
issue, validity, particulars of issuing authority and issuing country;
4. Name, permanent address or current contact address of trustee, controller, protector or settler;
5. Permanent Account Number or such certificate issued by government entity for taxation purpose;
6. Name and address of beneficiary and
7. Personal details of account operator.

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Rusma Khadka
May 23, 2023
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