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

Business Materials 17 February 2015 12:52 (UTC +04:00)
The UN Security Council (UNSC) has made changes to the international list of the Taliban/Al Qaeda Sanctions Committee and Resolution 1267 as well as Resolution 1989

Baku, Azerbaijan, Feb.17

By Azad Hasanli - Trend:

The UN Security Council (UNSC) has made changes to the international list of the Taliban/Al Qaeda Sanctions Committee and Resolution 1267 as well as Resolution 1989. 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.

The report said that the name of one individual associated with Al Qaeda and involved in the "financing, planning, facilitating, preparing or perpetrating of acts on supply, sale or transfer of arms on behalf (or in support) of the terrorist organization Islamic State of Iraq and the Levant has been added to the list.

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.

This is already the third change made to the list in 2015. A number of individuals under international sanctions for supporting terrorism have been previously removed from the list and names of four new individuals were added to the list.

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

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.

Edited by CN

Follow the author on Twitter: @AzadHasanli

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