CKB Sanction policy
Crnogorska komercijalna banka a.d. Podgorica, member of OTP Banking Group (“hereinafter: the Bank”) and its subsidiaries are committed to complying with international sanctioning provisions set out in national legislation and issued by international organizations and individual state authorities. To avoid any damage to the reputation of the Bank (reputational risk), the Bank acts with particular care during the establishment of certain account relations and transactions when the subject of the transaction and/or the parties to the transaction are subject to sanctions or are considered sensitive in terms of reputation.
As part of the establishment and maintenance of its relationships and when making its business decisions, the Bank takes into account the embargo-imposing, sanctioning and other restrictivemeasures of international organizations and various states, in particular the applicable provisions of the United Nations Security Council and the European Union.The Bank, furthermore, also takes into consideration the sanctions, prohibitions and restrictions issued by the President of the United States and published by the OFAC office of the US Department of the Treasury. These sanctions are applicable to all natural and legal persons with US status, as well as all financial transactions denominated in USD. In the interest of retaining market position and good reputation, supporting international collaboration and complying with legal regulations, the Bank formulates and shapes regulations as well as day-to-day processes and practice so as to ensure appropriate compliance with sanctions-related obligations and to protect the OTP Group’s goodwill and reputation. To this end, the Bank and the OTP Group apply uniform rules.
As part of the establishment and maintenance of its relationships and when making its business decisions, the Bank takes into account the embargo-imposing, sanctioning and other restrictivemeasures of international organizations and various states, in particular the applicable provisions of the United Nations Security Council and the European Union.The Bank, furthermore, also takes into consideration the sanctions, prohibitions and restrictions issued by the President of the United States and published by the OFAC office of the US Department of the Treasury. These sanctions are applicable to all natural and legal persons with US status, as well as all financial transactions denominated in USD. In the interest of retaining market position and good reputation, supporting international collaboration and complying with legal regulations, the Bank formulates and shapes regulations as well as day-to-day processes and practice so as to ensure appropriate compliance with sanctions-related obligations and to protect the OTP Group’s goodwill and reputation. To this end, the Bank and the OTP Group apply uniform rules.
CKB Sanction policy you may download here.