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UR Islamic Bank selects CapitalCompliance™ to support its clients in Iraq

By Leandra Monteiro

November 26, 2021

  • AML
  • Anti - Money Laundering
  • Capital Banking

UR Islamic BankCapital Banking Solutions recently announced that UR Islamic Bank for Investment has signed a strategic partnership with CapitalCompliance™, the integrated Compliance platform that prevents money laundry and tax evasion from Capital Banking Solutions.

Capital Banking Solutions has been awarded the contract for the deployment of its integrated Anti-money laundering and tax evasion solution named CapitalCompliance™ at UR Islamic Bank to support the bank’s regulatory compliance requirements in Iraq.

George Ghaoui, Sales Director – Middle East said, “We are thrilled to support UR Islamic Bank to protect its daily compliance operation, from onboarding to KYC Acceptance, transaction monitoring, names screening against sanction lists, tax evasion, detecting suspicious activity and managing investigations”. The timeframe to deliver the full fledge integrated solution is within four months.”

CapitalCompliance™ automates the monitoring, documentation, analysis and reporting requirements for regulations such as AML, Name Screening, KYC, FATCA and CRS. Capital Banking Solutions has more than 22 installations of CapitalCompliance™ in Iraq.

UR Islamic Bank for Investments provides a portfolio of Islamic banking products to both corporate and retail clients in Iraq market.

Capital Banking Solutions is a provider of an end-to-end global banking platform that enables banks to drive change for their business and transform the way they serve their customers. The objective is to allow customers to continuously improve their performance and compete with other players on the market.

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