The Union of Arab Securities Authorities (UASA) issued a study on know your customer (KYC) In financial institutions which was prepared by the second pillar’s working group of the strategic plan of the for the years 2021-2025 which was formed by UASA’s board members in their 18th annual meeting in Doha in 2024.
The working group based its preparation of this study on the accumulated experiences of the Union’s members in this field, in addition to their knowledge of regional and international practices in this field. The working group also attached forms used by some members of the Union to facilitate the opening of investment accounts, which take into account (KYC) requirements. The working group also devoted a special chapter to regulating electronic (KYC) procedures, in light of the increasing use of financial technology in capital markets.
In line with the strategic plan of the Union for the years 2021–2025, this study aims to provide material that can assist the Union’s member as a guiding reference, thereby contributing to greater alignment and harmonization among Arab legislations. This, in turn, will help facilitate the flow of investments among the Union’s member countries. We hope that this study will contribute to achieving the desired objectives.