As an accountable institution, defined in section 1 of the Financial Intelligence Centre Act No. 38 Of 2001 (“FICA”), the Land and Agricultural Development Bank of South Africa (“the Land Bank”) is required to comply with the KYC (know-your-customer) requirements of FICA.
The Land Bank is required to:
The KYC requirements apply to all natural persons, juristic persons, partnerships and trusts. There is no exception to the application of the KYC requirements. All new and existing clients are required to comply.
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