NHB(ND)/DRS/Pol-No.26/2009
20th February, 2009

To All Registered Housing Finance Companies

Dear Sir,

Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT)

Financial Action Task Force (FATF) Planery in Paris (27-29 February 2008 ) issued a Statement dated February 28, 2008 highlighting deficiencies in the anti- money laundering / counter terrorist financing systems in certain jurisdictions. Again, in its Plenary in Rio de Janeiro (15-17 October 2008) FATF issued a further statement dated October 16, 2008 on the subject.

Please find enclosed a copy each of FATF Statements dated February 28, 2008 and dated October 16, 2008. Housing Finance Companies are accordingly advised to take into account risks arising from the deficiencies in AML/CFT regime of Uzbekistan; Iran; Pakistan; Turkmenstan; Sao Tome and Principe and northern part of Cyprus.

Kindly acknowledge receipt of this circular letter.

 

Yours faithfully,

 

(R.S. Garg)
General manager

Enclosure- As above.