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For how long should the record on identity of clients be retained?

April 26, 2017clients identity record

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For how long should the record on identity of clients be retained?

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The records of all information on identity of clients referred to in Rule 3 contained in Notification No.9/2005 dated 1/7/2005 are required to be maintained by every banking company, financial institution and intermediary for a period of ten years from the date of cessation of the transactions with their clients.