HDB Mobile banking Application
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The Compliance Department in the Bank is responsible for the Bank business' extent of compliance and conformity with laws, controls, and the best professional practices for protecting the Bank from the risks of non-compliance. Those risks are defined as the risks that expose the Bank to legislative and regulatory penalties, material and monetary losses, or defamation as a result of failure to comply with the laws, rules, and standards applicable to its Banking activities.
Housing and Development Bank complies with the application of regulatory controls of anti-money laundering and terrorism financing, which are issued from the Central Bank of Egypt and recommendations of the Financial Action Task Force (FATF).
The Board of Directors has approved an Anti-Money Laundering and Terrorism Financing Scheme, including but not limited to the following:
The objective of the Foreign Account Tax Compliance Act (FATCA) is to report foreign monetary assets. Tax withholding serves as the cost resulting from non-reporting.
FATCA Law aims at tracing American taxpayers, who have foreign accounts and do not comply with paying taxes, by reporting the following:
Housing and Development Bank has registered in the Internal Revenue Service (IRS) and has become compliant with the application of FATCA Law that requires taking certain measures relating to the application of the procedures of due diligence and documentation with regard to all its customers (individuals, entities, and correspondents).
The General Department for the Protection of Customer Rights was established on 27/09/2018, in accordance with the directives of the Central Bank of Egypt, with the aim to activate the centralization of receiving customers’ complaints through various channels (printed/electronic). The presented complaints are examined and considered during the specified time in this regard, and then they are responded to as soon as possible. In the implementation of the confidentiality of customers' data and accounts, the Department replies to complaints via electronic means, according to the customers' registered data on the banking system. Moreover, it coordinates with the departments concerned at our Bank to solve and settle the complaint.
Housing and Development Bank works on protecting its customers from financial crimes, which represent a global problem, such as fraud, cybercrimes or accounting fraud. We present some advice for the prevention of such crimes and protection of our customers from being exposed to fraud:
The customers of Housing and Development Bank should follow the following steps: