Privacy Policy

STATEMENT OF THE CLIENT FOR POLITICALLY EXPOSED PERSON

When filling out the Statement, the data provided by the client will be used exclusively
for the purposes of Iute Credit Macedonia in accordance with the applicable legal regulations.
This obligation stems from the Law on Prevention of Money Laundering and Financing
terrorism as well as the internal acts that must be applied by Iute Credit Macedonia in
the procedure for getting to know the client with whom cooperation begins when applying for a loan.
** Definition of politically exposed person and persons related to them according to the applicable law
regulation in RSM: “Politically exposed person” are natural persons who are or have been
entrusted public office in the Republic of North Macedonia or in another country, such as:
a) presidents of states and governments, ministers and deputies or assistant ministers;
b) elected representatives in the legislative authority;
c) judges of supreme or constitutional courts or other holders of high judicial positions against
whose decision, except in exceptional cases, can not be used legal remedies;
d) members of management bodies of supervisory and regulatory bodies and agencies, state
auditing institution and central bank board members;
e) ambassadors;
f) high-ranking officers in the armed forces (ranks higher than colonel);
g) elected and appointed persons in accordance with the law and the members of the management and supervision bodies
of legal entities established by the state;
h) persons with positions in political parties (members of the executive bodies of political parties);
i) persons who are or have been entrusted with a prominent position in an international organization, such as
directors, deputy directors, members of management and supervisory boards or other equivalent
functions and
j) mayors and presidents of councils of municipalities.

Persons related to “Politically exposed person” are:
a) family members of the holder of public office, namely:
– a spouse or a person with whom the public office holder is in an extramarital union,
– children and their spouses or persons with whom the children of the public office holder are in
extramarital union or
– parents of the public office holder;
b) a person who is considered a close associate of the public office holder is a natural person:
– which is known to have joint legal or real ownership over a legal entity, has
concluded contracts or established other close business ties with the public office holder
or
– which is the sole beneficial owner of a legal entity or legal arrangement for which it is known
that they are established for the benefit of the public office holder,
Holders of public office from point a) to j) are considered to be the persons for at least two years after
the termination of the performance of the public function, based on a previously conducted assessment
at the risk of the subjects.