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Accepted Source of Wealth and Funds

This article serves as a reference for the accepted Source of Wealth and Source of Income documents. 

At Rain, we make sure to apply the industry’s best practices to maintain account integrity. Rain is granted Financial Services Permission (FSP) by Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority (FSRA). As per the regulations set forth by the local regulator, we are required to request Know Your Customer (KYC) documents from all of our customers.

What is a Source of Wealth?
A document or a collection of documents showing the origin of your entire body of wealth (i.e. total assets).

What is a Source of Funds?
An official document that shows the source of your funds on a regular frequency. 

Bank Statement, Source of Wealth, and Source of Funds can be in several forms and must include your name, date, and the issuing authority/company, etc. 

Below is a list of accepted documents for Source of Funds. The customer can provide any of the below:

Accepted forms of Source of Funds

Source of Funds

Examples
Salary
  • Payslip showing the last 3 months' salary
  • Salary letter from employer, not older than 2 months
  • Bank statement showing regular income, not older than 3 months
Savings
  • Investment/savings certificates, contract notes, or surrender statements, not older than 3 months
  • Saving bank account statements, not older than 3 months

Real-Estate Sale

  • Real Estate Sale Contract, the proof must show the date of the sale and the account the funds went into

Loan

  • Loan Contract
  • Bank account statement showing the credited amount of loan, not older than three months.

 

Below is a list of accepted documents for Source of Wealth. The customer can provide any of the below:

Accepted Source of Wealth
Source of Wealth Examples

Investment Returns

  • Investment/savings certificates, contract notes, or surrender statements, not older than 3 months
  • Bank statement clearly showing receipt of funds and investment company, not older than 3 months

Inheritance

  •  Inheritance Deed, not older than 3 months
  • Court Decision, not older than 3 months
  • Joint saving bank account statement, not older than 3 months

Business Ownership

  • Bank Account statement under the name of the business, no older than 3 months
  • Financial statements including the Profit and Loss of the business
  • Revenue and sales Reports

 

 

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