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Financial Sanctions: ISIL (Da’esh) and Al-Qaida

Friday, 18 September 2020

This news release is issued in respect of the restrictive measures directed against the ISIL (Da’esh) and Al-Qaida organisations.

Annex I to Regulation (EC) No 881/2002 has been amended with effect from 17 September 2020, following the publication of Commission Implementing Regulation (EU) 2020/1297 (“the Amending Regulation”). The Amending Regulation reflects the decision made on 10  September 2020 by the United Nations Security Council (UNSC) Committee established pursuant to Resolutions 1267 (1999), 1989 (2011) and 2253 (2015) to amend 11 entries to the UN ISIL (Da’esh) and Al-Qaida Organisations list. 

Details of the amendments can be found in the attached Annex.  

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated individuals and entitiy. If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services. They must also report their findings to the FIU. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated individuals and entitiy they are not required to report these details again.

Further details of the sanctions regime related to ISIL and Al-Qaida  and links to the UK’s Consolidated List of individuals and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

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