Therefore, a stringent Know Your Customer (KYC) policy is inherently an inbuilt requirement for an Islamic bank since the Islamic bank has to know the customer and his business before getting into a socially responsible Shariah compliant transaction. KYC is the first line of defense against money laundering in any banking system.
Sharing both understanding and open questions, being able to work together in the future and take action jointly, all these will be ever more vital when our common field of work is transformed in so many ways. I wish you a successful seminar. 3/3  BIS central bankers' speeches