The Presidents/Chief Executives

All Banks/DFIs/MFBs

Dear Sir/Madam,

Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulations and Guidelines on Compliance of United Nations Security Council (UNSC) Resolutions

1. Please refer to the Regulation-1 of AML/CFT Regulations and Guidelines on Compliance of United Nations Security Council (UNSC) Resolutions as amended from time to time.
2. It is clarified that the obligations/ prohibitions regarding proscribed entities and persons mentioned in the aforesaid Regulations and Guidelines are applicable, on an ongoing basis, to proscribed/ designated entities and persons or to those who are known for their association with such entities and persons, whether under the proscribed/ designated name or with a different name. Therefore, the relevant paragraphs of Regulation-1 and Guidelines stand amended as aforesaid with consequential changes. Banks/DFIs/MFBs are advised to ensure compliance of the requirements in letter and spirit.
3. All other instructions on the subject shall however, remain unchanged.
4. The updated version of the ‘Regulations’ and ‘Guidelines’ is enclosed.