Syria’s central financial institution has directed industrial banks to freeze all accounts related to people and corporations linked to the ousted regime of Bashar Assad, in response to a doc reviewed by Reuters and sources acquainted with the matter.
The round, issued on Thursday, calls on banks to “freeze all bank accounts of companies and individuals linked to the defunct regime,” and to tell the central financial institution of the small print of all accounts frozen inside three working days.
It particularly calls on banks to freeze accounts belonging to the Katerji Group, identified for its involvement within the Syrian oil commerce. The group was run by brothers Baraa and Hussam Katerji.
Baraa Katerji was killed in a suspected Israeli strike in Syria close to the Lebanese border in July. Israel didn’t touch upon the strike.
Hussam Katerji and his companies are below U.S. sanctions, together with for “facilitating petroleum shipments and financing to the Syrian Regime,” in response to the U.S. Treasury web site.
The Katerjis had been a part of a small circle of businessmen near the Assad household who rose to prominence throughout the Syrian civil warfare, which started in 2011 after Assad cracked down on in style protests.
Assad was ousted by opposition forces on Dec. 8. They have since put in place an interim authorities and are making efforts to hint monetary flows linked to his regime.
One banker, who spoke on situation of anonymity because of the sensitivity of the matter, mentioned the central financial institution round couldn’t simply be applied on condition that many regime-linked businessmen arrange accounts within the names of different folks, or used entrance corporations.
The new Syrian administration had already applied a common freeze on financial institution accounts after taking energy however people had been capable of problem the choices and withdraw or switch some funds.
The new measures are supposed to be extra stringent and focused and assist authorities collect info on regime-linked funds, mentioned a Syrian official acquainted with the matter.
Source: www.dailysabah.com