6.

1 Individual Account/ Sole Proprietor Account

Proof of Identity

Identity Document

Image of customer

ID is National Registration Card or valid Passport or Driver’s Licence OR in case of a Foreign national (who is a resident), a valid Passport with valid immigration documents should
NB
be provided

Proof of Residential Address (any of the following)

Utility Bill (e.g.. telephone/landline bill, water bill, electricity bill, land rate bill)

Valid lease agreement - Must be in the name of the customer, signed by the customer (tenant/lessee) and legal owner (landlord/lessor) of the property and be within the term of the lease period with proo

Bank staff visit by a Bank official on permanent employment term who knows where the customer resides and has been to the customer`s residence. the following details should be
captured: Full Name of Staff member, Designation of Staff member, Persons met, date, time and purpose of visit to be clearly written signed by the staff member.)

Foreign Banker Confirmation (non-resident customers) Reference letter from customer's foreign banker confirming address

Reference Letter - any one (1) of the following:

Letter from employer - The letter must be on the employer's letterhead and signed by a an authorised official with the company date stamp)

Letter from a known customer - Must be a customer of the Bank who has conducted his/her account satisfactorily (KYC compliant) for at least 1 year and has known the applicant
for a period not less than 1 year. Bank staff member validating KYC, should state as follows:
'I………………………………………………...……………………………………..…….have checked the KYC file and confirm that the referee (name) KYC file is compliant and the account has been
maintained to our satisfaction.’
Sign: Date:

Letter from school signed by an authorised official with the institution date stamp

Letter by a regulated professional (e.g. Lawyers, Accountants, Surveyors, Auditors etc.) who has had a professional working relationship with the customer of not less than one
year are The Customer should be a paid up member of their professional body (Supervisory Authority e.g. LAZ, ZICA, etc.)
Letter from Customary Authority signed by an authorised person with an official date stamp (also acceptable reference) ( e.g. Ward Development Committee chairperson,
Counsellor, Resident Development Committee, Village Headman, Chief, Religious Officers with permanent church
structures etc.).
For married couples - Where the address confirmation is in the name of the spouse, the address can be confirmed by any of the above documents; Plus a certified copy of the
NOTE
marriage certificate .

Source of funds or income

Income declaration

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6.2 Corporate Account Requirements
Corporate Account Opening Requirements
Account initiation documents (all of the following)

Completed Account Opening Forms

Signing Mandate

Specimen Signature Card

Proof of Identity (all of the following)

A certified copy of the certificate of incorporation or equivalent,

Articles of Association or By Laws or Constitution,

Print out from PACRA or equivalent with details of Shareholders and Directors,

A certified copy of Tax Registration Certificate,

A resolution of the Board to open a bank account and authorising the account signatories,

Identity Documents for Ultimate Beneficial Owner(s), (for complex structures only)

Identity Documents for all Directors with clear picture

Identity Documents for all Signatories with clear picture,

Recent passport size photos of all Signatories.

ID is National Registration Card or valid Passport or Driver’s Licence OR in case of a Foreign national (who is a resident), a valid Passport with valid
NB
immigration documents should be provided

Proof of permanent Physical Address (any of the following)

Utility Bill - (Must be less than 3 months old)

Valid lease agreement - Must be in the name of the customer, signed by the customer (tenant/lessee) and legal owner (landlord/lessor) of the property and
be within the term of the lease period with proof of ownership

Bank staff visit by a Bank official on permanent employment term who knows where the customer resides and has been to the customer`s residence. the
following details should be captured: Full Name of Staff member, Designation of Staff member, Persons met, date, time and purpose of visit to be clearly
written signed by the staff member.)

Foreign Banker Confirmation (non-resident customers) Reference letter from customer's foreign banker confirming address

NB For Small Medium Enterprises (SME), the proof of residence applicable to indvidual customers must be obtained

Proof of source of funds/income (any of the following)

A copy of the last available audited financial statements

Bank Statement of past one year with previous bankers where applicable

Projected monthly cash flows

Copy of latest filed tax return

NB For Small Medium Enterprises (SME), the proof of source of funds applicable to indvidual customers must be obtained

Reference Letter (the following also cover the proof of residence requirement)

Letter by a regulated professional (e.g. Lawyers, Accountants, Surveyors, Auditors etc.) who has a professional working relationship with customer of not less
than one year)-
Also acceptable reference; The Business should be a paid up member of their professional body (Supervisory Authority e.g. LAZ, ZICA, etc.).

Letter from Customary Authority signed by an authorised person with an official date stamp. References from a Ward Development Committee chairperson,
Counsellor, Resident Development Committee, Village Headman, Chief, Religious Officers with permanent church structures etc. is also acceptable.
Letter of reference stating physical address written by either a regulated professional firm (eg Lawyers, Accountants, Surveyors, Auditors etc) or a Customary
Authority ( eg Local Authority or Constituency or Ward Development or Resident Development Office or Village Headman or Chief etc)- all of which must have had
business dealings for not less than one year with the customer

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6.3 Governmental
Non-Governmental
OrganisationOrganisation (NGO/NPO)
(NGO/NPO) Account Account Requirements
Opening Requirements
Account initiation documents (all of the following)

Completed Account Opening Forms, physical/electronic

Signing Mandate

Specimen Signatures

Proof of Identity (all of the following)

A certified copy of the certificate of registration or equivalent

Certified copy of By Laws or Constitution which has evidence of filing with Registrar of Societies

Registration Documents filed with auhtorities (eg. the Registrar of Societies, Ministry of Community Development and Social Welfare, Municipalities with details
of Board/Executive Committee with evidence of filing or print out from authorities)

A certified copy of the resolution of the Board/Executive Committee to open account and authorising the account signatories

Tax Registration Certificate

Identity Documents of all Board/Executive Committee Members with recent pictures

Identity Documents of all Signatories and Passport size photos

ID is National Registration Card or valid Passport or Driver’s Licence OR in case of a Foreign national (who is a resident), a valid Passport with valid
NB
immigration documents should be provided

Proof of physical business address (any of the following)

Foreign Banker Confirmation (non-resident customers) Reference letter from customer's foreign banker confirming address

Valid lease agreement - Must be in the name of the customer, signed by the customer (tenant/lessee) and legal owner (landlord/lessor) of the property.

Bank staff visit by a Bank official on permanent employment term who knows where the customer resides and has been to the customer`s residence. the
following details should be captured: Full Name of Staff member, Designation of Staff member, Persons met, date, time and purpose of visit to be clearly
written signed by the staff member.)

NB
The proof of residential address applicable to indvidual customers must be obtained for Board/Executive Committee members

Proof of source of funds/income (any of the following)

A copy of the last available audited financial statements

Bank Statement of past one year with previous bankers where applicable

Projected monthly cash flows

Copy of latest filed tax return

Reference Letter

Letter by a regulated professional (e.g. Lawyers, Accountants, Surveyors, Auditors etc.) who has a professional working relationship with customer of not less
than one year)-
Also acceptable reference; The Business should be a paid up member of their professional body (Supervisory Authority e.g. LAZ, ZICA, etc.).

Letter from Customary Authority signed by an authorised person with an official date stamp. References from a Ward Development Committee chairperson,
Counsellor, Resident Development Committee, Village Headman, Chief, Religious Officers with permanent church structures etc. is also acceptable.
Letter of reference stating physical address written by either a regulated professional firm (eg Lawyers, Accountants, Surveyors, Auditors etc) or a Customary
Authority ( eg Local Authority or Constituency or Ward Development or Resident Development Office or Village Headman or Chief etc)- all of which must have had
business dealings for not less than one year with the customer

Letter from a corporate - Must be a customer of the Bank which has operated its account satisfactorily for atleast 1 year and has known the applicant for a
period not less than 1 year.Bank staff member validating KYC, should state as follows:
I………………………………………………………………………………………………. .have checked the KYC file and confirm that the referee (name) KYC file is compliant and
the account has been maintained to our satisfaction’

Sign: Date:

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6.4 Partnership Account Requirements
Partnership Account Opening Requirements
Account initiation documents (all of the following)

Completed Account Opening Forms

Signing Mandate

Specimen Signature Card

Proof of Identity (all of the following)

A certified copy of the certificate of Registration

Latest PACRA print out of business search or its equivalent for foreign Partnership

Tax Registration certificate

Identity Documents for all the partners (NRC or valid Passport or valid Driver's licence)

Recent passport size photos of all signatories

Partnership agreement signed by all partners

An acceptable ID will be a National Registration Card or valid Passport or Valid Driver’s Licence OR in case of a Foreign national (who is resident), a valid
NB
Passport with valid immigration documents

Proof of permanent Residential Address (any of the following)

Utility Bill (e.g.. Telephone/landline bill, water bill, electricity bill, land rate bill)

Letter from a known customer (also acceptable reference) - Must be a customer of the Bank who has conducted his/her account satisfactorily (KYC compliant)
for at least 1 year and has known the applicant for a period not less than 1 year. Bank staff member validating KYC, should state as follows:
'I………………………………………………...……………………………………..…….have checked the KYC file and confirm that the referee (name) KYC file is compliant and the
account has been maintained to our satisfaction.’
Sign: Date:

Valid lease agreement Must be in the name of the customer, signed by the customer (tenant/lessee) and legal owner (landlord/lessor) of the property

Bank confirmation by a permanent bank employee

Foreign Banker Confirmation (non-resident customers)Reference letter from customer's foreign banker confirming address

Proof of source of funds or income (any of the following)

A copy of the last available financial statements

Bank Statement of past one year with previous bankers where applicable

Projected monthly cash flows

Copy of latest filed tax return

Reference Letter (the following also cover the proof of residence requirement)

Letter by a regulated professional (e.g. Lawyers, Accountants, Surveyors, Auditors etc.) who has a professional working relationship with customer of not less
than one year)-
Also acceptable reference; The Business should be a paid up member of their professional body (Supervisory Authority e.g. LAZ, ZICA, etc.).

Letter from Customary Authority signed by an authorised person with an official date stamp. References from a Ward Development Committee chairperson,
Counsellor, Resident Development Committee, Village Headman, Chief, Religious Officers with permanent church structures etc. is also acceptable.

Letter of reference stating physical address written by either a regulated professional firm (eg Lawyers, Accountants, Surveyors, Auditors etc) or a Customary
Authority ( eg Local Authority or Constituency or Ward Development or Resident Development Office or Village Headman or Chief etc)- all of which must have had
business dealings for not less than one year with the customer

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6.5 Parastatal Account Requirements
Parastatal Account Opening Requirements

Account initiation documents (all of the following)

Completed Account Opening Forms

Signing Mandate

Specimen Signature Card

Proof of Identity (all of the following)

A certified copy of the certificate of incorporation or equivalent

Articles of Association or By Laws or Constitution or Act of Parliament

Print out from PACRA or equivalent with details of Shareholders and Directors

A certified copy of Tax Ceritificate or Tax Exemption Certificate

A resolution of the Board to open account and authorising the account signatories

Identity Documents of all Signatories

Recent Passport size photos of all Signatories

ID is National Registration Card or valid Passport or Driver’s Licence OR in case of a Foreign national (who is a resident), a valid Passport with valid
NB
immigration documents should be provided

6.8 Government/Ministry Account Opening Requirements.

Government/Ministry Account Opening Requirements

Account initiation documents (all of the following)

Accounts form no. 49

Completed Account Opening Form

Signing Mandate

Specimen Signature Card

Proof of Identity (all of the following)

Cover/ Introductory Letter

Identity Documents of all Signatories

Recent Passport size photos/Bank captured images of all Signatories

NB
ID is National Registration Card or valid Passport or Driver’s Licence OR in case of a Foreign national
(who is a resident), a valid Passport with valid immigration documents should be provided

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6.6 Correspondent Banking Requirements
Correspondent Banking Account Opening Requirements

Account initiation documents

Completed Account Opening Forms

Operating Mandate

Details of the ownership of the Respondent (business partners, important shareholders and/or beneficial owners etc.)

Details of subsidiaries, branches and offices of the Respondent (if any)

Range of services offered to correspondent's clients

Details of correspondent's structure e.g number of clients, countries of origin and assets

Details of PEP involvement if applicable. i.e. whether a PEP appears to have a material interest or management role in CB Respondent

Correspondent Bank countries of operation

Proof of Identity (all of the following)

Obtain a certified copy of the license granted by the local supervisory authority

A certified copy of the certificate of incorporation or equivalent

Articles of Association or By Laws or Constitution

Memorandum of Association

Incorporation Documents filed with the authorities with details of Shareholders with evidence of filing (or print out from authorities)

Incorporation Documents filed with the authorities with details of Directors with evidence of filing (or print out from authorities)

A certified copy of the resolution of the Board to open account and authorising the account signatories

A Certified copy of power of attorney affecting the operation of the account given by the directors

Identity Documents (ID)of Ultimate Beneficial Owner

Identity Documents of all Directors

Tax Registration certificate

ID is National Registration Card or valid Passport or Driver’s Licence OR in case of a Foreign national (who is a resident), a valid Passport with valid
NB
immigration documents should be provided

Address Proof must at a minimum contain full physical business address

Source of Funds / Income Proof (required for high risk customers)

A copy of the latest audited accounts

Documents reflecting AML/CFT controls.

AML policy

Customer Acceptance Policy

Completed AML Wolfsberg questionnaire

AML Officer details - Organisation Structure

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6.7 Trust Account Requirements
Trust Account Opening Requirements

Account initiation documents (all of the following)

Completed Account Opening Forms

Signing Mandate

Specimen Signature Card

Proof of Identity (all of the following)

A certified copy of Certificate of Registration or Ceritificate of Incorporation

Latest PACRA print out of business search or its equivalent

Tax Registration Certificate

Identity Documents for Trustees, Settlors and Beneficieries (NRC or valid Passport or valid Driver's licence)

Recent passport size photos of all signatories

Trust Deed or founding document signed by all trustees with evidence of registering with Ministry of Lands

ID is National Registration Card or valid Passport or Driver’s Licence OR in case of a Foreign national (who is a resident), a valid Passport with valid
NB
immigration documents should be provided

Proof of permanent Residential Address for Trustees (any of the following)

Utility Bill (eg. Telephone/landline bill, water bill, electricity bill, land rate bill)

Valid lease agreement - Must be in the name of the customer, signed by the customer (tenant/lessee) and legal owner (landlord/lessor) of the property

Letter by a regulated professional (eg Lawyers, Accountants, Surveyors, Auditors etc) who has had a proffessional working relationship with customer of not
less than one year).
Also acceptable- The Trust should be a paid up member of their professional body (Supervisory Authority eg LAZ, ZICA, etc)
Letter from Customary Authority signed by an authorised person with an official date stamp - ( eg Ward Development Committee chairperson, Counsellor,
Resident Development Committee, Village Headman, Chief, Religious Officers with permanent church structures etc).
Bank confirmation by a permanent bank employee - Confirmation of address on a Bank template by a Bank official who knows where the customer resides
and has been to the customer`s residence.

Foreign Banker Confirmation (non-resident customers). Reference letter from customer's foreign banker confirming address

Proof of source of funds or income

A copy of the last available audited financial statements where applicable

Bank Statement of past one year with previous bankers where applicable

Projected monthly cash flows

Copy of latest filed tax return

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