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Nqoodlet | نقودلت

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KYB/KYC Required Documents

Thank you for your interest in Nqoodlet! We’re excited to help your business grow. As a fintech company, we’re committed to compliance and security, registering companies and establishments requires the submission of several important documents before signing the contract and starting the card issuance process.

➡️Sign up to Nqoodlet here, then you will receive the KYB/KYC requirement unique link for your company via email.

The required documents are in compliance with the financial regulations that we follow at every step of the process.

List of Required Documents: Company

🏢 Company Information  

  1. Company Commercial Registration, including the Commercial Registrations of any contributing companies or parent company (if applicable).
  2. Article of Association, including the contracts of any contributing companies or parent company (if applicable).

💰Financial Information

If the company is eligible for audited financial statement:
  1. Audited financial statements.
  2. Bank statement from the past month.
  3. A bank account information letter (IBAN) issued by the bank, displaying the company name to confirm ownership.
If the company isn’t eligible for audited financial statement:
  1. Certificate of SME Size.
  2. Bank statement from the past year, or from the date of registration if it’s less than a year.
  3. Bank certificate/balance.
  4. A bank account information letter (IBAN) issued by the bank, displaying the company name to confirm ownership.

👥 Shareholders & Managers

  1. Passport copy for the managers, partners and board members named in the article of association and the commercial registration. (If they own over 5%)
  2. A copy of the national address of the partners and directors mentioned in the contracts of association and commercial registration. (The copy must be recent and not expired.)

List of Required Documents: Establishment

🏢 Establishment Information  

  1. Commercial Registration

💰Financial Information

  1. Bank statement from the past year, or from the date of registration if it’s less than a year.
  2. A bank account information letter (IBAN) issued by the bank, displaying the company name to confirm ownership.
  3. Bank certificate/balance.

👥 Shareholders & Managers

  1. Copy of the passport for the owner listed in the Commercial Registration.
  2. Copy of the national address of the owner listed in the Commercial Registration. (The copy must be recent and not expired.)

📞 Contact Information

It is important to designate individuals responsible for communicating with Nqoodlet and managing financial orders that our team will handle. 

Therefore, please assign two individuals to act as points of contact with Nqoodlet, one of whom should be from the finance or compliance department, and provide their details as follows:

  1. Full Name
  2. Job Title
  3. Email Address
  4. Mobile Number

Final Step

Once we have received all the required documents via the registration link here, our team will review them and share the contract with you for signing through the electronic signature system Pandadoc.

Frequently Asked Questions

Where to find CR?

From Ministry of Commerce website: here, watch how here

What is Bank Certificate? How do I export it?

You can easily request a bank certificate through your bank’s mobile application or website, (The steps may vary depending on the bank). For assistance, you can always contact your bank’s customer service for guidance

What if we don’t have audited financial statements?

Share with us Monshaat SME certificate from here

Where to find AOA/AOI?

From Ministry of Commerce here

Where to get National address?

From here, how’s how

What is source of wealth funds?

Find template to fill out here or we can fill it out for you during our call

What is compliance?

Compliance refers to adhering to legal and regulatory requirements that govern financial operations. Fintechs must comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations to prevent money laundering and terrorist financing, ensuring safe and ethical operations.

What is KYB/KYC?

KYB (Know Your Business) and KYC (Know Your Customer) are processes to verify the identity of businesses and individuals, ensuring they are legitimate and meet anti-money laundering (AML) regulations.

How long does the process take?

After you’ve submitted all the required information as instructed. Our compliance team will review it and respond up to 3 days either with feedback or approval to proceed to next steps.

Additional documents?

Additional documents might be asked by the compliance team if needed, such as Iqama, National ID, USA ID, proof of address such as water or electricity bill.