Implementation of Freezing Measures in UAE

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

Implementation of Freezing Measures in UAE

Implementation of Freezing Measures in UAE: Terrorism Lists Regulation and Implementation of UN Security Council Resolutions on the Suppression and Combating of Terrorism, Terrorist Financing, Countering the Proliferation of Weapons of Mass Destruction and its Financing and Relevant Resolutions Abrogating: Cabinet Decision No. 20 dated 25/02/2019.

Implementation of Freezing Measures

1- The implementation of freezing measures pursuant to UNSCRs 1718 (2006) and 2231 (2015) shall not prevent adding to the frozen account any interest, profits or other payments due under contracts, agreements or obligations that arose prior to the date on which the account was subject to provisions of the said resolutions, provided such additions are immediately frozen and reported to the Office.

2- In all cases, procedures set forth in UNSCRs 1452 (2002), 2231 (2015), 1718 (2006) and 2270 (2016) and any successor resolutions must be observed.

The implementation of a freezing order pursuant to UNSCR 1737 (2006), continued pursuant to UNSCR 2231 (2015) or taken pursuant to UNSCR 2231 (2015), shall not prevent a Listed Person or organization from making a payment due under a contract that was concluded prior to their listing, subject to the following conditions:

1- The Office has determined that the contract is not related to any prohibited items, materials, equipment, goods, technologies, assistance, training, financial assistance, investments, brokerage or services referred to in UNSCR 2231 (2015) or any future successor resolution.

2- The Office has determined that the payment is not received, directly or indirectly, by any person or organization listed pursuant to Paragraph (6) of Appendix B of UNSCR 2231 (2015).

3- The Office has submitted a prior notification to the UN Security Council, including its request to make or receive such payments or to authorize, where appropriate, the unfreezing of funds for this purpose, within ten business days before the issuance of such authorization.

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