Regulatory Alerts2012-01-01
Bank of Tanzania Directive on UN Security Council Resolution 2036(2012) Regarding Somalia
The Bank of Tanzania has directed all local banks and financial institutions to implement United Nations Security Council Resolution 2036(2012) by freezing funds and assets held by designated Somali individuals and entities. These institutions must report detailed information on bank accounts and other assets owned directly or indirectly by Somali political and military leaders, government bodies, and nationals residing in Tanzania and abroad. The complete reporting must be submitted to the central bank by 8 June 2012 to ensure these assets are effectively prevented from being accessed or developed by the specified parties.
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