The Guernsey Financial Services Commission has notified businesses that Al-Qard Al-Hasan has been designated under the United Kingdom’s counter-terrorism sanctions regime, which applies in the Bailiwick of Guernsey. Businesses must immediately check whether they maintain accounts or other relationships connected to the entity, freeze relevant funds and economic resources, and report any findings to the Policy & Resources Committee. Businesses must not make funds or economic resources available to the designated entity, entities it owns or controls, or persons acting on its behalf or at its direction, except under an applicable derogation or licence. Firms that identify an affected relationship must also notify the Commission and, as soon as reasonably practicable after fulfilling their statutory reporting obligations, provide details of the relevant customer, beneficial owner, key principal, transaction or asset, together with the nature and value of the relationship or transaction.
2026-09-08Guernsey Financial Services Commission
Guernsey Financial Services Commission notifies businesses of Al-Qard Al-Hasan designation and immediate asset freeze obligations
The Guernsey Financial Services Commission has notified businesses that Al-Qard Al-Hasan is subject to counter-terrorism sanctions and immediate asset freeze requirements. Businesses must check for affected relationships, freeze relevant assets and report findings, while regulated firms must also provide specified relationship and transaction details to the Commission.