Anti Money Laundering Policy

Policy Statement

SAVIC is a legal, ethical, and transparent company, and it takes responsibility to ensure that its assets and resources are not used for corruption, irregularities, or money laundering.

The company has taken it upon itself to detect fraud, irregularities, abuse of position, and institutional gains.

Purpose

The purpose of this policy is to ensure that the company's financial processes and procedures are aligned with anti-money laundering laws.

Scope

This policy applies to every entity related to SAVIC and its employees, directors, officers, contractors, or any third party working on behalf of the company.

The policy is for internal use, and the administration is required to convey it to every concerned person or entity. Failure to comply with the policy will result in appropriate action.

Money Laundering

Money laundering refers to assets or money acquired unlawfully or used to support unlawful purposes, including terror financing, regardless of how the funds were obtained.

Under this policy, the following are considered prohibited money laundering:

• Money or assets received in exchange for criminal or unlawful acts, or funds whose origin is not explicit.
• Property gained after criminal activity where the origin, location, or disposition is not transparent.
• Property used to promote unlawful activity.
• Terrorism financing.

Compliance

The company will establish a body responsible for the implementation of this policy.

The company will carry out procedures to identify irregularities on behalf of any stakeholder under this policy. The company should:

• Identify all financers of the company and verify their identity.
• Take special care where stakeholders want anonymity.
• Maintain proper records of stakeholders.

If anyone in the company knows or suspects that a person is involved in money laundering or terror financing, it is their responsibility to report such person to the body established by the company. In such a case, the company must record:

• Details of the people involved.
• The type of transactions.
• The reason for suspicion.
• The amount involved.

The company must consult with the legal department before embarking on business with a third party and carefully screen such interactions.

This policy is subject to updates and amendments, which will be communicated to stakeholders as needed.