Know your customer
Know your customer (KYC) is an international convention practised by
banks and other public companies to validate the identity of people and
companies with whom they do business. The practice is in place to help
prevent identity theft fraud, money laundering and financing of
undesirable entities such as terrorist groups etc.
Stanbic IBTC Bank is committed to a eradicating fraud and criminal
activity. As such, we are required to obtain proof of identity from all
our clients. Whenever you transact with the bank you will need to
produce a valid driver's licence, national ID card or passport as proof
In some instances, such as when opening an account, you will also need
to produce proof of residential address and source of funds. A public
utility bill, issued no longer than six months prior to your application
for a new account, will be accepted as proof of residence.
These measures are in place to protect both the bank and our customers.
USA Patriot Act
The USA Patriot Act was signed into law by the US Government on 26
October 2001. Under this new law US banks are required to obtain a
certificate from their overseas correspondent banks confirming their
ownership structure, regulators and physical presence.
Click on the link below to download an updated version of the USA
Patriot Act Certification signed on our behalf. Should you have any
questions or need more information regarding this certification, please
e-mail Standard Bank Global Financial Institutions at email@example.com.
In June 1999, the Basel Committee issued a proposal for a New Capital
Adequacy Framework to replace the 1988 Accord.
On 26 June 2004, following extensive interaction with banks and industry
groups, the Basel Committee published the International Convergence of
Capital Measurement and Capital Standards: a Revised Framework, the new
capital-adequacy framework, commonly known as Basel II.
Click here to download an interactive position paper of frequently asked
It is suggested that visitors download the announcement and presentation
files to their desktops and open it using Windows Explorer in the
Click on the link above using the "right" mouse button
Select "Save Target As..."
Open "Windows Explorer"
Double click on the downloaded file with the "left" mouse
Wording for bottom line
Stanbic IBTC Bank PLC is a member of the Standard Bank Group, an
authorized financial services and registered credit provider. © 2008
Stanbic IBTC Bank Plc