The Compliance Department is responsible for ensuring that the Bank-e-Millie-Afghan operates in full accordance with the laws and regulations issued by Da Afghanistan Bank, including AML/CFT requirements. Its duties include implementing and monitoring KYC procedures, managing compliance risk, ensuring adherence to financial sanctions, reporting suspicious transactions to competent authorities, maintaining effective internal controls, providing compliance training to staff, and promoting a strong culture of regulatory compliance across all levels of the Bank to safeguard it from legal, financial, and reputational risks.

Key Functions

Compliance Policies: The Compliance Department at Bank-e-Millie Afghan is responsible for developing, updating, and enforcing compliance and AML/CFT policies in line with the requirements of Da Afghanistan Bank. It establishes procedures for Customer Due Diligence (CDD/KYC), sanctions compliance, and risk-based controls, provides regulatory advisory support to senior management and business units, promotes ethical standards and a strong culture of compliance across the Bank, and ensures staff training and awareness on regulatory and internal policy obligations.

Compliance Reviews: The Department conducts ongoing compliance monitoring and periodic internal reviews of operations and transactions, assesses compliance risks, evaluates the effectiveness of internal controls and mitigation measures, reviews customer files and business activities for regulatory adherence, maintains proper documentation and audit trails, and reports compliance findings with recommendations for corrective actions.

Regulatory Coordination: The Compliance Department serves as the primary liaison with regulators and supervisory authorities, ensures timely and accurate submission of regulatory reports and disclosures, reports suspicious transactions and regulatory breaches as required, monitor’s regulatory updates for timely implementation, and supports regulatory inspections, audits, and supervisory reviews.