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Zimbabwe to blacklist, freeze terrorist funds

by Staff reporter
16 Mar 2019 at 05:03hrs | Views
The law operationalising Government powers to blacklist and freeze funds and assets of individuals and entities linked to international terror, has been gazetted. Statutory Instrument 56 of 2019 was published in an Extraordinary Government Gazette yesterday.

It is cited as Suppression of Foreign and International Terrorism (Application of UNSCR 1540 (2004)1673, 1810, 1887, 1977 (On Non-State Actor Proliferation), 1695,1718, 1874 on Democratic People's Republic of Korea and 1696,1737, 1747, 1803 and 1929, UNSCR 2094 (2013), 2231 (2015) UNSCR 2270 (2016), UNSCR 2321 (2016), UNSCR 2371 (2017), of UNSCR 2375 (2017) UNSCR 2397 (2017) and Successor UNSCRs) Regulations, 2019.

The principal Act—Suppression of Foreign and International Terrorism Act was enacted in 2007, in compliance with a Security Council Resolution requiring all UN members to apply financial sanctions on individuals and entities associated with international terrorism.

The Bank Use Promotion and Suppression of Money Laundering Unit will be Zimbabwe's national agency for implementing the regulations.

"These regulations extend to any person or entity listed under Subsection (1), notwithstanding any rights granted to or obligations imposed under any existing international agreement or contract made prior to date of coming into force of these regulations," read the Statutory Instrument.

Clause 5 provides for the role of the Bank Use Promotion and Suppression of Money Laundering Unit. The regulations prevent the entry into or transit through Zimbabwe's borders by specified individuals; and also bar direct and indirect supply, sale and transfer of arms and military equipment by such people.

"Where the unit proposes an individual to be added to the United Nations Consolidated List, the President shall on the recommendation of the minister, declare a person or entity to be a suspected international terrorist or international terrorist group respectively," read the regulations.

"Upon such a declaration, the minister through the ministry responsible for Foreign Affairs shall forward the list of proposed designated persons or entities to the relevant UN Sanctions Committee, stating the reasons for the designation."

According the SI, the purpose of the regulations includes prescribing procedure for freezing funds or financial assets or other economic resources of any designated persons and provide for the authority responsible for proposing and designating persons under various UNSCRs.

The regulations also stipulate the type of financial or other related services which may not be provided to a designated person. It further prescribe conditions and procedure for utilisation of frozen funds, or economic resources while prohibiting the making of frozen funds or economic resources available to designated persons as well as guidelines for effective implementation of the UNSCRs.

Source - the herald