UN Security Council Updates for the Democratic Republic of Congo and Iraq
Published: Thursday July 1st, 2021
Public Notice
UN Security Council Updates for the Democratic Republic of Congo and Iraq
- Democratic Republic of Congo
Pursuant to Section 3A of the International Obligations (Economic & Ancillary Measures) Amendment Act, 2019, supervised financial institutions (“SFIs”) and the general public are hereby informed that, on 29th June 2021, the United Nations Security Council (“UN Security Council”) renewed the sanctions imposed on the Democratic Republic of Congo.
The Central Bank hereby requires that all SFIs licensed in The Bahamas, as a matter of high priority, review their client records to determine whether or not they hold funds, other financial assets or economic resources which are either owned or controlled directly or indirectly by the persons or entities listed on the Sanctions List or any person acting on their behalf or at their discretion, and report both positive and negative findings to the Central Bank. Any positive findings (“hits”) are required to be reported to the Financial Intelligence Unit and the Attorney General.
- Iraq
On 30th June 2021, the UN Security Council removed one entry from the Iraq Sanctions List.
Queries or responses to this notice should be addressed to:
The Analytics Unit
Bank Supervision Department Central Bank of The Bahamas
Email: [email protected]
Issued: 1st July, 2021
