Page 65 - ICD AR21 EN

ICD has institutional and governance mechanisms in place to ensure the utmost compliance with Shari’ah principles, regularity, transparency, integrity, and legality in all its activities, transactions, and operations. Our greatest priority lies
in the adherence to the highest accountability and transparency standards to ensure public confidence while delivering maximum development effectiveness.
6.1 RISK MANAGEMENT
AND COMPLIANCE
Based on the Anti Money Laundering, Combating Financing Terrorism and Know Your Customer Policy of the IsDB Group, ICD is strongly committed to ensuring that all its activities are governed by its strict rules, procedures and guidelines. All activities are undertaken based on rigorous scrutiny, due diligence, monitoring and oversight using automated filtering and screening systems which cover all major international sanctions programs, embargoes, politically exposed persons (PEPs) and legal and regulatory enforcement lists etc. This policy was approved by the IsDB Board of Executive Directors in 2019 and the ICD Board in 2020. Additionally,
ICD takes into consideration the latest version of
the unbiased and non-political recommendations of specialized international entities such as the Financial Action Task Force (FATF) on Anti-Money Laundering and Combating Financing of Terrorists, International Convention for Suppression of the Financing of Terrorism and the U.N. Security Resolution No. 1373, as measures to combat money laundering and the financing of terrorism. As a member of the IsDB Group, ICD also has an approved Integrity Policy, Disclosure of Information & Conflict of Interest Policy and Whistleblowing Policy dealing with anti-bribery, anti-corruption, anti-fraud and conflict of interest.
OUR PRACTICES
STRONGER TOGETHER 63