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2022-01-01

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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BANK of ZAMBIA OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

STRICTLY CONFIDENTIAL

BOZ/EXEC/DGO/bsd/bp

January 26, 2022

CB Circular No. : 02/2022

To : All Heads of Financial Service Providers and Payment Systems Business

SANCTIONS AGAINST INTERNATIONAL HIZBALLAH NETWORK

The Bank of Zambia is in receipt of communication regarding the designation of Adnan Ayad as well as members of an international network of facilitators connected to him.

The following individuals and entities have been designated as part of Adnan Ayad and Adel Diab’s international network of facilitators:

Individuals

  1. Adnan Ayad
  2. Adel Diab

Companies

  1. Al Amir Co. for Engineering, Construction and General Trading SARL, Lebanon;
  2. Golden Group SAL Off-shore, Lebanon;
  3. Golden Group Trading SARL;
  4. Hamer and Nail Construction Limited, Zambia;
  5. Hamidco Investment Limited, Zambia;
  6. Inshaat Co. SARL, Lebanon;
  7. Jammoul and Ayad for Industry and Trade, Lebanon;
  8. Land Metics SARL, Lebanon;
  9. Land Metics SAL Off-shore, Lebanon; and
  10. Top Fashion Gmbh Konfektionsbugelei, Germany.

You are required to confirm if your institution maintains any account or has any transactional relationship with any of these individuals or entities particularly, Hamer and Nail Construction Limited and Hamidco Investment Limited.

...2/-

Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm

CB Circular No. 02/2022 - 2 - January 26, 2022

The information (including confirmation that there is no account or relationship where that is the case) should be emailed to Ms. Velika Mpundu, Senior Analyst – Research and Regulatory Policy on vmpundu@boz.zm and Mr. Calvin Habasonda, Acting Assistant Director – Regulatory Policy on chabasonda@boz.zm, by close of day today, Wednesday, January 26, 2022. Kindly treat this matter as strictly confidential and URGENT.

Please contact Director – Bank Supervision for any further information or clarification.

[Signature]

Francis Chipimo (PhD) DEPUTY GOVERNOR – OPERATIONS

cc Governor Director – Bank Supervision Director – Non-Bank Financial Institutions Supervision Director – Payment Systems

Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm

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