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Azerbaijan’s Financial Monitoring Service changes list relating to terrorism support

Business Materials 15 December 2013 13:16
The UN Security Council (UNSC) has made changes to the international list of the Taliban/Al Qaeda Sanctions Committee.

Baku, Azerbaijan, Dec.15

By Emin Aliyev - Trend:

The UN Security Council (UNSC) has made changes to the international list of the Taliban/Al Qaeda Sanctions Committee. For this reason, the Financial Monitoring Service under the Central Bank of Azerbaijan has made the relevant changes to the list of legal firms and individuals under the international sanctions status for their support of terrorism, the Financial Monitoring Service said on Dec.14.

Names of new legal bodies and individuals were added to the list whilst several legal entities and individuals were removed and the information about some was specified, the Financial Monitoring Service said.

The UN Security Council adopted Resolution 1267 (1999) on freezing the financial resources of the Al Qaeda organization and the Taliban movement and the establishment the Taliban/Al Qaeda Sanctions Committee.

Resolution 1373 (2001) states the inadmissibility of financing terrorist activities and the establishment of the Counter-Terrorism Committee that ultimately approved the international list.

The list is updated in accordance with the Security Council's decisions and the information received from regional organisations.

According to an order of the Cabinet of Ministers of Azerbaijan, the international list is approved and updated by the Financial Monitoring body on the recommendation of the Ministry of Foreign Affairs.

The service also makes the approved list available for the monitoring and supervisory bodies. In the case of detection of properties and money belonging to legal entities and individuals specified on the list, these subjects of monitoring and supervisory bodies must inform the Financial Monitoring Service, without performing any operations with these properties and funds.

Translated by L.Z.

Edited by S.M.

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