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Article 25: Participant Due Diligence

Date(g): 1/12/2021 | Date(h): 26/4/1443

Effective from Dec 01 2021 - Nov 30 2021
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1-The Debt-Based Crowdfunding Company shall prepare a Participant due diligence program and shall comply with AML/CFT instructions. Such program shall include at least policies and procedures in relation to:
 
 a.Know Your Customer (KYC).
 
 b.Information security.
 
 c.Data privacy and confidentiality.
 
2-The Debt-Based Crowdfunding Company shall comply with the Electronic Transactions Law and its Implementing Regulations and establish the necessary procedures and measures to ensure the validity of information, including:
 
 a.verify the customer email address and phone number by sending an authentication link; and
 
 b.Developing procedures necessary to ensure the provision of up-to-date information, for example, the national address.