Guernsey Financial Services Commission notifies firms of updated UN ISIL and Al-Qaida designation details for Ahmad Hussain Al-Sharaa

The Guernsey Financial Services Commission issued a sanctions notice following an update to the United Nations Security Council Consolidated List under the ISIL (Da’esh) and Al-Qaida regime, amending the designation details for Ahmad Hussain AL-SHARAA, previously listed as Abu Mohammed AL-JAWLANI (QDi.317). The individual remains subject to the UN measures of asset freeze, travel ban and arms embargo, with the update taking effect in the Bailiwick through Guernsey’s implementation of the relevant UK sanctions regulations. All businesses must check whether they hold accounts for, or otherwise have a relationship with, the designated individual (or any other designated person, entity or body) and treat as frozen with immediate effect any funds or other assets and economic resources owned, held or controlled directly or indirectly, including derived interest or dividends and assets held via persons acting on their behalf or at their direction. Any findings must be reported immediately to the States of Guernsey Policy and Resources Committee in line with reporting obligations under the Sanctions (Bailiwick of Guernsey) Law, 2018, and firms must not make funds or economic resources available to designated persons or owned or controlled entities except under a permitted derogation or licence. Where an affected relationship is identified, firms must also report to the Commission under Handbook Rule 12.37 with, at minimum, identifying details of the customer or transaction linked to the designated person and the nature and value of the relationship or transaction, after completing the statutory report to the Policy and Resources Committee.