Compliance
A Compliance Unit has been established in line with the instructions of Central Bank of Yemen (CBY).
This Unit is responsible for ensuring the company is compliant with relevant laws and regulations, identifying legal risks, and taking the required measures to mitigate such risks.
Particularly, the unit tasks are to:
Identify and assess non-compliance risks associated with the activities of the company.
Perform adequate tests to verify compliance by the company’s employees within its relevant policies and procedures.
Implement the compliance procedures required to verify compliance with the laws, regulations, procedures and directives issued by CBY.
Develop an efficient compliance-training program for the company’s employees, and deliver periodic training sessions to all staff related to the implementation of the laws and regulations in force.
Ensure compliance, follow up and advise Senior Management on any developments in the laws and regulations in force, and any required amendments which will be required as a result.
Verify that any required corrective procedures are applied on the detection of any violation may result from non-compliance.
Periodically share reports with Senior Management on any corrective steps taken, and proposes recommendations to limit the occurrence of any future violations.
Report promptly to Senior Management any potential violation or breach of laws and regulations in force.
