Compliance news

International Investment Bank expands cooperation in the field of compliance

International Investment Bank expands cooperation in the field of compliance

On April 12, 2018, Director of Compliance Department of the International Investment Bank (IIB) took part in a seminar for the staff of the Development Bank of the Republic of Belarus (DBRB) dedicated to the implementation of compliance functions in development institutions. As part of the training, representatives of the DBRB presented international approaches to the construction of compliance-control functions, gave an overview of the main documents of supranational organizations involved in…  Read more
Slovakia and Mongolia, with the support of the IIB, expand cooperation in the area of anti-money laundering and combating the financing of terrorism

Slovakia and Mongolia, with the support of the IIB, expand cooperation in the area of anti-money laundering and combating the financing of terrorism

The Technical Assistance fund (TAF) established by the Slovak Republic (SR) and the International Investment Bank (IIB) will provide consultancy services to Mongolian public authorities on the issues of national anti-money laundering and combating the financing of terrorism (AML/CFT). The assistance related to the adaption of the Mongolian legislation in compliance with the Recommendations for Combating the Financing of Terrorism of the Financial Action Task Force (FATF Recommendations). This…  Read more
Discussions on DFIs compliance risks at IIB’s Bratislava conference

Discussions on DFIs compliance risks at IIB’s Bratislava conference

One of the integral features of modern development financial institutions (DFIs) is the application in work of regulated and constantly updated compliance procedures.This allows DFIs to remain transparent to shareholders and effectively combat prohibited practices, such as fraud, corruption and conflicts of interest, anti-money laundering and combating the financing of terrorism (AML/CFT). The issues of compliance risks related to the DFIs activities and ways for their decrease took cente…  Read more
IIB business intelligence project is one of the main topics featured in the October issue of Banking Review

IIB business intelligence project is one of the main topics featured in the October issue of Banking Review

The first ever business intelligence (BI) project of the International Investment Bank (IIB) aimed at financial reporting automation is one of the main topics featured in the October issue of Banking Review. The IIB completed the project jointly with a Russian software developer Diasoft. The key acquirers were the credit and investment, and the compliance and finance departments of the Bank, with the IT Department acting as the project coordinator. The IIB financial reporting is automated on…  Read more
The IIB released its first public report on compliance control activity

The IIB released its first public report on compliance control activity

In May 2016, the IIB delivered its first "Compliance Control Activity Report". The document was published taking into account the standards of international financial organizations, and in accordance with principle 6 of ”Uniform Framework for Preventing and Combatting Fraud and Corruption” joined by the IIB in 2015. The Report highlights the main activities of the IIB, and particularly of its Compliance Department in the field of combating money laundering, terrorism financing and…  Read more