Banking

NITL selects Refinitiv’s World-Check to support KYC

Karachi, January 15, 2020: Pakistan’s First & Largest Asset Management Company National Investment Trust Limited (NITL) has selected World-Check from Refinitiv to support its compliance effectiveness in line with the provisions of the Securities and Exchange Commission of Pakistan’s (SECP) Anti-Money Laundering (AML) and Combating Financing Terrorism Regulatory Framework.

Refinitiv’s World-Check Risk Intelligence is used by regulated companies to help screen for financial crime risks as part of their anti-money laundering compliance programmes. Refinitiv’s World-Check Risk Intelligence database delivers accurate and reliable data that assist clients’ in their decision-making processes.

It employs hundreds of specialist research analysts across the globe, who adhere to stringent research guidelines when collating information from reliable sources – such as watch lists, government records, and reputable media publications.

“This step marks another milestone for NIT’s vision to ensure effective compliance in line with the SECP AML & Combating Financing Terrorism Regulatory Framework. We are committed to fighting financial crime and will be leveraging our robust technology infrastructure to achieve our compliance vision as we scale our business in a sustainable and responsible manner,” said, Adnan Afridi, Managing Director, NIT.

“We’re pleased to have been chosen by NIT as it moves towards establishing a solid compliance program. KYC screening is now a critical process in mitigating financial crime and regulators are placing significant attentions in this area across their policy making agenda. We believe this partnership will help NIT take a further step in meeting their regulatory requirements in Pakistan and beyond,” said Nadim Najjar, Managing Director, Middle East and Africa, Refinitiv.

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