Recent content by Wysywyg

The tighter the regs, the more crypto and shadow banking (e.g. hawala) become.

Thank you.

IFZA are OK - I went direct. No issues or challenges to report.

No - we opened our FZCO directly through IFZA. Did you go direct or through a consultancy?

Thank you - you are right re: Verifo and the like. I am still looking at all options out there - this relates to UAE but we will also be needing UK accounts as we are going through our EMI app at the moment in the UK.

It's about perspective. It might be usual to you, but it isn't to this person, so they should work out what works best for them. Do they ask for extra information and risk losing the client, or do they go along with the request, based on what they know about the client?

Hi all, We are trying to open accounts in the UAE to fulfill two of our use cases. By "we", I mean a regulated crypto exchange/market-maker and an FX brokerage. We are regulated in the EU, VARA and are a payment ramp in and out of Africa. I would be grateful for any suggestions about the...

I am not sure what your line of work is, but I am wondering if your AML/KYC checks might pick up their reasons for this as part of building a picture of their profile. If you are facilitating this for your client, it might be worth asking them to sign an AML form about the origin of funds. That...

Potentially.

Thank you - this also involves paying in/exchanging physical cash. Business accounts. Exchanges would be an option as well. Thanks

Hi all, Someone here might be able to point me in the right direction - do any UAE banks offer business accounts in Scandi currencies (NOK, SEK) that includes paying in physical cash - or exchange services to AED. Happy to consider alternatives. Thank you in advance.

Doing naughty things with HSBC Germany, are we?

Finding that thing to do is the hard part.

There isn't a set rule. You either go through your network, e.g. former colleagues, friends of friends or clients or other consultants from previous projects. That being said, I am in a position now where I can take on extra work and provide more consultancy services, so will be looking to...

Freelance consultancy work through my UAE company. I specialise in several activities (not a full list by any means): Project Manager/BA to banks and asset managers/hedge funds. ERP system consulting/implementations Setting up compliance/AML systems and processes for companies Operational risk...