Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.
Relationship was terminated
We started our cooperation with BMI Offshore Bank in 2009. However, the cooperation is now terminated due to the recent changes in the Seychelles AML Act and the situation in the banking sector which these changes created.
The amended AML Act gave unlimited powers to the FIU – Financial Investigation Unit with Central Bank of Seychelles. FIU was granted the right to block clients’ funds in accounts at financial institutions, which can cause substantial losses to client’s business. The amendments to the law also resulted in stricter procedures of the bank’s Compliance Department, so it now takes longer to open an account and in certain cases can be as long as several months.
Besides, BMI Offshore Bank has recently lowered its quality standards in handling clients’ enquiries. We received many complaints about the inefficiency of the bank’s managers and sometimes complete disregard by the bank of clients’ enquiries.
This fact is an unpleasant issue for us because, being just intermediaries, we have a very limited influence on the bank’s employees and management
Relationship was terminated
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