There exists a comprehensive set of regulations on KnowYour-Customer (KYC), Customer due Diligence, Suspicious Transactions Reporting and correspondent banking has been put in place in line with the recommendations of the Financial Action Task Force. All financial institutions (FIs) have to confirm the true identity of every prospective customer and verify the documents obtained from new customers/account holders.
On this basis, while closely monitoring developments at home and abroad, the Bank will continue to ensure stability in financial markets through, for example, providing ample liquidity; it will also continue to do its utmost to support financing, mainly of small and medium-sized firms, by providing funds through the Special Funds-Supplying Operations to Facilitate Financing in Response to the Novel Coronavirus (COVID-19) at a low interest rate to financial institutions that make loans in response to COVID-19.