Skip to main content
Entire section Custom print Text Only Rich Text Print / Save as PDF
Download Original PDF

Updated Mechanisms for the Implementation of Security Council Resolutions Relating to the Fight Against Terrorism and its Financing

No: 381000077863 Date(g): 18/4/2017 | Date(h): 22/7/1438

Translated Document

This circular is appended to the Guide to Enforcing Security Council Resolutions Related to Combating Terrorism and its Financing, issued under Circular No. (391000014326) dated 06/02/1439H (corresponding to 26/10/2017G).

 

In reference to SAMA's instructions regarding the application of Security Council resolutions related to combating terrorism and its financing as stipulated in the Rules Governing Anti-Money Laundering & Combating Terrorist Financing for all Banks and Money Exchangers and Foreign Banks' Branches Operating in the Kingdom of Saudi Arabia issued in February 2012G, as well as the Rules for Combating Money Laundering and Terrorist Financing in the Insurance and Reinsurance Companies and Liberal Professions.

SAMA wishes to inform you of the issuance of an update to the mechanisms for implementing Security Council resolutions related to combating terrorism and its financing, as per the cable from His Royal Highness the Crown Prince, Deputy Prime Minister, Minister of Interior, and Chairman of the Supreme Committee for Combating Terrorism No. 109130 dated 25/04/1438H. This update is based on Article (32) of the Law on Combating the Financing of Terrorism, which stipulates that the Permanent Committee for Combating Terrorism at the Ministry of Interior shall establish the necessary mechanisms to implement Security Council Resolutions No. (1267) and No. (1373) and related resolutions, issued by a decision of the Minister of Interior. The cable from His Royal Highness included approval and implementation of the updated mechanisms for applying Security Council resolutions related to combating terrorism and its financing, which are as follows:

  1. The mechanism of Security Council resolutions concerning those on the Security Council Committee's No.(1267) consolidated list of ISIS, Al-Qaeda, and associated individuals, institutions, and entities.
  2. The mechanism for implementing Security Council Resolution No. (1373) and subsequent resolutions related to combating terrorism and its financing.
  3. The mechanism for implementing Security Council Resolution No. (1988) and subsequent related resolutions.

In implementation of the updated mechanisms for applying the Security Council resolutions mentioned above, the following actions must be taken, and feedback on the measures taken in this regard should be provided within one week from the date of this notice:

 

1-

Follow up on updating the data of those on the UN list on a daily basis by referring to the website of the (2253/1989/1267) and (1988) committees at the following addresses

  • (https://www.un.org/sc/suborg/ar/sactions/1988/materrials)
  • (http://www.un.org/sc/committees/1267/aq_sanctions_list.shtml)
     
  
2-Immediately freeze without delay (within hours) and without prior notice any accounts, relationships or financial dealings of those names included in the lists of the Security Council Committees (2253/1989/1267) and (1988). According to the data available in the two lists, and notify SAMA about them without taking action.
 		  
3-Immediately freeze any names that are designated in accordance with UN Security Council Resolution (1373).  
4-

In the event a name is removed by the Security Council Committees (2253/1989/1267) and (1988), the freeze must be lifted immediately (within hours) and without prior notice, and SAMA must be notified immediately, unless prior notice is received indicating that the freeze should not be lifted due to classification under Security Council Resolution No. (1373).

For names whose relationships were previously frozen based on directives from SAMA, they shall remain frozen until further instructions to lift the freeze are received from SAMA

  
5-Establish effective procedures to verify all customer names (individuals, entities, ultimate beneficiaries, etc.) against names designated as 'listed persons' by local authorities and the United Nations, during transactions (for existing customers) or prior to account opening or establishing a relationship. This is especially important for money transfer operations, where the names of both the sender and the beneficiary must be verified.  
6-Maintain an updated database of entities and individuals listed on these lists for monitoring purposes and report this to SAMA  
7-Monitor sanction lists issued and available from other countries and verify all transactions and transfers against these lists to avoid any potential legal issues.