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Highlight the reasons for monitoring borrower's account.

Highlight the reasons for monitoring borrower's account.

Answers

sharon
i) To be fully aware of update situation on an account.
ii) To ensure any borrowing which has been granted remain within the customer’s
capacity to repay.
iii) To observe any adverse trends so that an easily action can be taken.
iv) To discover any irregular practices bank have recently been criticized for allowing
proceeds of claims to be laundered through account without sufficient enquiry.
v) To be informed about customers activities to credit worthiness for example
evidence of gambling.
vi) To ensure that the customer is using the account for agreed purpose.
vii) To confirm information provided by customer e.g. amount of salary and monthly
commitment.
sharon kalunda answered the question on March 7, 2019 at 13:58

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