Compliance

AML & KYC Policy

Anti-Money Laundering & Know Your Customer · Last updated: March 2026

1. Policy Statement

Bitburj W.L.L. is committed to the highest standards of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance. As a consulting firm registered in the Kingdom of Bahrain, we adhere to the requirements of the Central Bank of Bahrain (CBB), the Financial Action Task Force (FATF) recommendations, and all applicable local and international regulations.

2. Customer Due Diligence (CDD)

Before establishing a business relationship, Bitburj W.L.L. conducts thorough due diligence including:

  • Verification of the identity of the client (individual or legal entity)
  • Identification and verification of beneficial owners
  • Understanding the nature and purpose of the business relationship
  • Assessment of the client's risk profile

3. Enhanced Due Diligence (EDD)

Enhanced measures are applied for high-risk clients, including:

  • Politically Exposed Persons (PEPs)
  • Clients from high-risk jurisdictions as identified by FATF
  • Complex or unusual transaction patterns
  • Clients with significant cash-based operations

4. KYC Documentation Requirements

For Individuals:

  • Government-issued photo identification (passport or national ID)
  • Proof of address (utility bill or bank statement, not older than 3 months)
  • Source of funds declaration where applicable

For Legal Entities:

  • Certificate of incorporation or commercial registration
  • Memorandum and articles of association
  • Register of directors and shareholders
  • Identification of ultimate beneficial owners (25%+ ownership)
  • Board resolution authorising the business relationship

5. Ongoing Monitoring

We conduct ongoing monitoring of client relationships and transactions to detect suspicious activity. This includes periodic reviews of client information, transaction monitoring, and sanctions screening.

6. Suspicious Activity Reporting

Any employee who identifies or suspects money laundering or terrorist financing activity is required to file a report with our designated Compliance Officer, who will assess and, if appropriate, file a Suspicious Transaction Report (STR) with the relevant authority.

7. Record Keeping

All CDD and transaction records are retained for a minimum of five (5) years following the termination of the business relationship, in accordance with Bahrain regulatory requirements.

8. Staff Training

All employees receive regular AML/CTF training to ensure awareness of their obligations and the ability to recognise suspicious activities.

9. Contact

For compliance inquiries, please contact our Compliance Officer at compliance@bitburj.org.