U Zaw Zaw
Chairman’s Statement for Anti-Corruption
In a short period of 5 years, AYA Bank has become the second largest private bank in Myanmar. Concurrently, AYA Bank has won a hard-earned reputation for transparency and integrity with regulators, customers and staff. AYA Bank is the first private bank to submit to voluntary Human Rights Audit to ensure all Human Resources policies conform to ILO guidelines implementing non-discrimination policies resulting in becoming an equal opportunity employer with zero gender salary gap. 3 out of 8 Board members are Independent Non-Executive Directors. AYA Bank is the first bank in Myanmar to introduce Centralized Core Banking System (access to data), the first to introduce mobile and internet banking platforms (democratization of financial services), the first to adopt International Financial Reporting Standards (IFRS – standardized financial transparency) and to undergo international audit (Deloitte). This is evidence of commitment across all levels of the organization.
Our Anti-Corruption and Bribery Policy sets out our responsibilities and of those working for us. I am conscious that I must be a role model for all our executives and staff and that my words and actions set the tone for the rest of the organization. I therefore maintain zero-tolerance to anti-corruption at my level before I expect the same from others under me. Our reputation is built on our values and our collective commitment to acting at all times with integrity. We take a zero-tolerance approach to the making or receiving of bribes or corrupt payments in any form and undertake to uphold the laws under which we operate.
Mr. Azeen’s Statement for Anti-Corruption
I acknowledge that I have read and considered the Anti-Corruption Policy of AYA Bank Ltd., and confirm that I will endeavour to always conduct myself in accordance with the Policy, that I will strive set the standard for my team by example.
Anti-Money Laundering & Counter Financing of Terrorism Policy and Internal Control Measures
Ayeyarwady Bank in compliance with Pyidaungsu Hluttaw Law No.11/2014“Anti-Money Laundering Law” and Pyidaungsu Hluttaw Law No.23/2014 “Counter Terrorism Law” and Ministry of Home Affairs “Anti-Money Laundering Rules and Counter Terrorism Financing Rules” and regulations of Central Bank of Myanmar and to the extent possible, adopt the recommendations of FATF. The Bank’s AML/CFT Policy establishes governing principles and procedures to protect AYA Bank from being used or implicated in money laundering or counter terrorist financing activities.
AYA BANK AML/KYC Questionnaire
Know Your Customer Policy
- Customer Acceptance Policy – Having a clear customer acceptance policies and procedures, including a description of the types of customers that are unacceptable to bank management.
- Customer Due Diligence Measures – Establishing a systematic procedure for verifying the identity of new customers and not entering into a business relationship until the true identity and ownership structure of a new customer is satisfactorily established.
- On-Going Monitoring of High Risk Transactions and Accounts – Understanding of normal and reasonable account activity of customers and to have in place a system in place to detect unusual suspicious patterns of activity.
Reporting of Suspicious Transactions
Upon detection of suspicious transactions immediately report to the designated officers of the bank.
Reporting of Suspicious TransactionsRecord keeping
By establishing and retaining relevant and important documents, and the details of suspicious transactions in accordance with bank’s and regulatory requirements in substance and for the required amount of time.
Ayeyarwady Bank complies with all the laws and regulations of Central Bank of Myanmar.
Appointed to establish and maintain internal policy, procedures and manual of compliance and to ensure compliance by staff.
For staff to facilitate the recognition and reporting of money laundering activities.
To check compliance with and effectiveness of the measures taken to apply the AML/CFT guideline and present law once every year.