De-freeze Funds based on Similarity of Names on Terrorists Lists

Regulations on Terrorists’ Lists under UAE AML Law, AML Training Dubai

De-freeze Funds based on Similarity of Names on Terrorists Lists under UAE Law

De-freeze Funds based on Similarity of Names on Terrorists Lists: The procedures of implementing the Cabinet’s resolution No. (20) of 2019 concerning the regulations on Terrorists’ Lists; and implementing the Security Council’s Resolutions (this also includes Anti Money Laundering Law of UAE) concerning the prevention and suppression of terrorism, terrorism financing and proliferation financing.

De-freeze Funds based on Similarity of Names to those listed in the Sanctions List

The De-freeze mechanism of persons or entities having similar names to listed individuals or entities in the Sanctions List shall be in accordance with the following:

Whomever had their funds frozen inside the State, shall submit a written de-freeze request to the Office attaching all supporting documents proving they are not the Designated in the Sanctions List.

The Office studies the request and [the Office] shall have the right to request any additional clarifications or documents deemed fit from the petitioner or any other entity.

The Office shall issue their decision concerning the request, whether by rejection or approval, within thirty (30) working days from receiving the request of the de-freeze.

The Office shall inform the applicant and the freezing authority of their decision, whether rejections or approval, and the freezing authority shall immediately implement the decision.

If the freezing request was rejected, or a response is not received within thirty days as of the date submitted, the applicant shall be entitled to plea/grieve before the competent court within thirty (30) working days of receiving the rejection or the period of response prescribed has expired.

The Competent Court’s order shall be final regarding the plea/grievance and it shall be in-appealable; therefore, if the plea/grievance was rejected, it is not permissible to submit a new one except after three (3) months of the date of rejection, unless there are serious grounds to plea before the expiration of three months.

Plea/Grievance to the freezing order shall not be accepted if submitted before an application was submitted to the Office and was rejected or before expiration date of the Office’s time lime to response to the request; in accordance with the provisions above.

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