Regulatory Alerts2022-01-01
Bank of Zambia Circular 02/2022: Sanctions Against the International Hizballah Network
The Bank of Zambia designated Adnan Ayad, Adel Diab, and ten associated companies as part of an international Hizballah network subject to sanctions. All financial service providers and payment systems businesses must verify whether they hold accounts or maintain transactional relationships with these designated entities. Institutions are required to email their confirmation, or a statement of no relationship, to specified regulatory analysts by close of business on January 26, 2022.
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