1. Freezing of Funds Designated in Accordance With the Mechanisms Issued to Enforce Security Council Resolutions Concerning Prevention of the WMD Proliferation and Their Financing

No: 391000077627

Date(g): 25/3/2018 | Date(h): 9/7/1439

Effective from 2018-03-25 - Mar 24 2018
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1.1	In compliance with Security Council resolutions concerning the prevention of the WMD proliferation and their financing, and in implementation of the mechanism issued accordingly, financial institutions are required to promptly freeze (within hours) and without prior notice any funds, economic resources, assets, or property owned, controlled, or possessed, either wholly or partially, directly or indirectly, by any of the following:
		(a)	Any person, group, or entity designated by the United Nations Security Council or any relevant committee of the Security Council under any of the pertinent Security Council resolutions.
		(b)	Any person who acts on behalf of, at the direction of, or is owned or controlled, directly or indirectly, by a person, group, or entity listed by the Security Council. including through illegal means.
1.2	The implementation mechanism of Security Council resolutions on preventing the WMD proliferation and their financing prohibits any natural or legal person, including all categories of financial institutions, from providing any funds, economic resources, assets, or property to any listed person, group, or entity. It also prohibits the provision of any form of financial or other services, directly or indirectly, to or for the benefit of such persons, unless the designation is removed from the Security Council committees or a reasoned written authorization is obtained from the Saudi Central Bank (SAMA).
1.3	The mechanism mandates the continuous updating of data for individuals on the lists of the Security Council sanctions committees on a daily basis. This involves referencing the website of the resolutions adopted by the United Nations Security Council at the following address: un.org/ar/sc/documents/resolutions/
1.4	SAMA must be notified within a maximum of five working days in the event of a freeze, and complete details of the account or transaction must be provided as outlined in Paragraph (3.3-c) of this guide.
1.5	Payments made to listed individuals, groups, institutions, or entities may be credited to the frozen accounts, on the condition that these payments remain frozen and that SAMA is notified accordingly.