KYC : Global
freedom facility will be offered only to the existing customers of GMEC whose KYC
details are available at the branch level for future verifications.
Banks :
Remittance transfers will be limited to five dedicated bank accounts
maintained by GMEC, i.e., Bank Muscat, National Bank of Oman, Bank Dhofar, Sohar International
and Oman Arab Bank where customers will transfer funds from their
individual accounts maintained with these Banks, through online transfers and/or
through cheque deposits.
Mode
:
Customers to initiate transfer advices through their e-mail ID’s and/or
mobile numbers registered with the branches.
Source of Funds :
Transaction
processing will be subject to submission of satisfactory evidence of Source of
Origin of Funds wherever warranted (transaction amount greater than the threshold
limit set as per the risk categorization).
EDD : Enhanced
customer due diligence measures will be applied as per AML law 2016 in all
applicable cases.
Third Party : Customers to ensure that
they are initiating online transfer from his / her account and the actual
remitter of the transaction are one and the same whose KYC details are registered
with the branches; no third party transfers will be permitted.
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