KYC (Know Your Client) Procedures
1.The customers of Adab Solutions FZC are subdivided in two categories:
1-1. Private Customers (natural persons).
1-2. Corporate Customers (legal entities).
2. If the customer is a private person (natural person) the following documents must be collected:
2-1. Full name details.
2-2. Government issued Photo ID with ID number, and/or passport number (original or certified
copies).
3.Proof of residency – Copy of utility bill.
4.Swift confirmation of the bank transfer. The information of the bank
account showed on the
SWIFT must be identical to (1) and (2) above. Otherwise, the deposit must be returned to the same
bank account it came from, immediately, without crediting the trading account.
5. Withdrawals must be made to the same bank account the money was deposited from (to prevent
money transfer between different entities’ bank accounts, through the Company), and in the same
currency (to prevent currency changes through the Company).
6. If the original account is no longer available, funds may be transferred to a different account of the same entity (you will need to get a copy of a check or other instrument proving the new account
ownership), in the same currency and into the same country the original deposit was made from.
7. If the customer is a corporation (legal entity) the following documents must be collected:
7-1. All statutory documents (Certificate of incorporation, memorandum and articles of association),
and amendments to them (original or certified copies).
7-2. Details on the shareholders, directors and ultimate beneficial owners (same details as those for
natural persons described above).
7-3. Powers of attorney for the persons carrying out interaction with the Company on behalf of the
Customer (issuing orders, signing documents for opening the account and other procedures).
