Capital Banking Solutions announced today that UR Islamic Bank for Investment has signed for CapitalCompliance, the integrated Compliance platform that prevents money laundry and tax evasion from Capital Banking Solutions.
Capital Banking Solutions has been awarded the contract for the deployment of its integrated Anti-money laundering and tax evasion solution named CapitalCompliance™ at UR Islamic Bank to support the bank’s regulatory compliance requirements in Iraq.
George Ghaoui, Sales Director - Middle East said: “We are thrilled to support UR Islamic Bank to protect its daily compliance operation, from onboarding to KYC Acceptance, transaction monitoring, names screening against sanction lists, tax evasion, detecting suspicious activity and managing investigations”. The timeframe to deliver the full fledge integrated solution is within four months.
CapitalCompliance™ automates the monitoring, documentation, analysis and reporting requirements for regulations such as AML, Name Screening, KYC, FATCA and CRS.
Capital Banking Solutions has more than 22 installations of CapitalCompliance™ in Iraq.