Central Securities Depository Of IRAN

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AYANDEH BANK STARTS IDENTIFYING CUSTOMERS VIA CSDI'S E-KYC CIGS SYSTEM

Ayandeh Bank starts using CSDI's home-grown electronic KYC system to identify and authenticate its customers.

A ceremony to celebrate the launching of a joint electronic channel between Central Securities Depository of Iran and Ayandeh Bank was held on Tuesday 28 April, 2020 at one of the branches of the bank.

Based on the joint plan, Ayandeh Bank will start using the novel paperless Know Your Customer (KYC) system, domestically designed and run by CSDI named the Comprehensive Information Gathering System (CIGS), wherein a variety of information concerning identity, contact, bank account, and suchlike of the users are electronically verified.

Addressing the audience, the Chief Executive Officer of CSDI, Hossein Fahimi, said one of CSDI’s priorities is to offer capital market services to bank customers.

Fahimi hailed people’s trust and entrance into the capital market in recent months, and added: “People have decided to direct their capital into manufacturing entities inside the country so that we can witness growth in production trends. That’s why CSDI intends to serve best services to stockholders up to the international standards.” 

The CSDI chief termed CIGS as the gateway into the Iranian capital market, saying: “This system provides a wide range of services including dividend distribution to the stockholders of various exchanges, OTC market, ETFs and securities.” 

For his part, the CEO of Ayandeh Bank, Mohammad Fetanat, said: “We try to serve our some 4.5 million customers via CIGS to obtain their trading accounts and benefit from the capital market services.”

Fetanat said nearly 275 people from Ayandeh Bank personnel have been trained to serve our customers registering into the CIGS system.

CIGS is a sophisticated infrastructure which provides a wealth of value-added services to stockholders and – on a broader perspective - to the whole capital market.

The system aims to contribute to the principle of transparency in the capital market, since all the stockholders need to register and fill out the relative forms once and for all. Therefor from then on they will have access to all the services and entities in the capital market needless of registering again and again.

Release Date: 2020-05-03