Know Your Client ("KYC") verification procedures are at the very heart of the due diligence obligations under the code of conduct of KKI. Before transaction procedures can commence, it is vital that the subject or the principal of the transaction should be identified and established and it stands the first step in making any business transaction with KKI by a customer. In our code of conduct, the term “principal” is taken in its widest context to include, beneficial owner; settler; controlling shareholder; director; major beneficiary, etc.

Once the principal has been identified, the verification or the transaction process can continue. Where the principal is an individual (i.e. a person) end user client, the following information and documentation is required: -

• Full name

• Date and place of birth 

• Nationality 

• Full physical and postal address, telephone and fax numbers and email address

• National Identity Card number 

• Copy of passport in case if the customer is making a TT, DD or Traveler’s Cheques 

• Occupation/Business

• Name, address and telephone number of employer (if appropriate)

It is important to note that where the principal is not an individual person but a partnership or a company, then the verification procedure centers on confirming information on the partnership or company itself. Another worth mentioning point is that although the verification or KYC procedures followed by KKI are thorough but they are not draconian. There is nothing in the KYC process to cause any legitimate businessperson or organization any undue concern. 

The customers are treated very politely and the marketing staff is well trained to treat them keeping intact all the basic principles of marketing so as to give the customer all respect, comfort and security.