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$1,012,402.00 (Project budget includes all project-funded activities)
Last Updated Date
Nov 2, 2023
Project Estimated Start Date
Jul 1, 2021
Project Estimated End Date
Jun 30, 2025
Client Legal Name
BFIU
Project Description
Through the partnership with BFIU, this project will:
1. Develop a comprehensive eKYC regulatory guideline.
2. Conduct capacity development of BFIU and financial sector in implementation of eKYC.
3. Establish monitoring and supervision tool for BFIU on the eKYC process.
4. Create business cases for private sector financial institutions to invest in their digital infrastructure.
Development Results
This project expects to increase coverage of eKYC registrations by 500,000 by the end of the project implementation period. By the end of the post-implementation period, it is expected that a total of two million people will be covered by the e-KYC system.
Indicator
Cumulative
Number of participants in workshops, training events, seminars, conferences, etc.
436
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
1
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
1
Number of workshops, training events, seminars, conferences, etc.
9
Number of reports accepted by client
null
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
null
Number of training modules and new products developed
null
Number of entities receiving in-depth advisory services
null
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As part of its Due Diligence and as mandated by IFCs Sustainability Policy, IFC team has screened this project to assess consistency with IFCs performance standards.
The principles of the relevant performance standards have been applied to the project design. Environmental and Social risks will continue to be reviewed throughout the lifecycle of the project.
IFCs advice will be provided in a manner consistent with the principles of the relevant performance standards and will provide recommendations for appropriate mitigation measures whenever warranted.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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