Identifier
Created
Classification
Origin
07ABUDHABI526
2007-03-28 13:38:00
SECRET
Embassy Abu Dhabi
Cable title:
IMPORTANCE OF SWIFT IMPLEMENTATION OF UNSCR 1747
how-toVZCZCXRO7776 PP RUEHDE DE RUEHAD #0526 0871338 ZNY SSSSS ZZH P 281338Z MAR 07 FM AMEMBASSY ABU DHABI TO RUEHC/SECSTATE WASHDC PRIORITY 8661 INFO RUEHDE/AMCONSUL DUBAI PRIORITY 6955 RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY RUCNDT/USMISSION USUN NEW YORK PRIORITY 0122
S E C R E T ABU DHABI 000526
SIPDIS
SIPDIS
DEPT FOR NEA/ARP, ISN/RA, ISN/CPI, EEB
TREASURY FOR AMANDA CURTIS
E.O. 12958: DECL: 03/26/2017
TAGS: KNNP KTFN PARM EFIN ETTC IR AE
SUBJECT: IMPORTANCE OF SWIFT IMPLEMENTATION OF UNSCR 1747
SANCTIONS ON BANK SEPAH
REF: A. SECSTATE 38553
B. ABU DHABI 510
C. ABU DHABI 473
D. ABU DHABI 367
E. ABU DHABI 146
Classified By: Ambassador Michele J. Sison for reasons 1.4 (b and d).
S E C R E T ABU DHABI 000526
SIPDIS
SIPDIS
DEPT FOR NEA/ARP, ISN/RA, ISN/CPI, EEB
TREASURY FOR AMANDA CURTIS
E.O. 12958: DECL: 03/26/2017
TAGS: KNNP KTFN PARM EFIN ETTC IR AE
SUBJECT: IMPORTANCE OF SWIFT IMPLEMENTATION OF UNSCR 1747
SANCTIONS ON BANK SEPAH
REF: A. SECSTATE 38553
B. ABU DHABI 510
C. ABU DHABI 473
D. ABU DHABI 367
E. ABU DHABI 146
Classified By: Ambassador Michele J. Sison for reasons 1.4 (b and d).
1.(S) On March 28, Econchief and OFAC Attach passed ref a
statement from Deputy Secretary of Treasury Kimmitt to
Ahmed Al-Qamzi, Head of the International Division of the
Anti-Money Laundering and Suspicious Cases Unit of the
Central Bank and emphasized the need to take swift action on
the implementation of UNSCR 1747, especially on Bank Sepah
and Bank Sepah International. Al-Qamzi said that he received
a copy of UNSCR 1747 on March 26 from the UAE MFA and that
the Central Bank would be issuing a "freeze order and further
instructions (as per paragraphs 4 and 7 of the UNSCR) would
be issued to all banks, money changers, and financial
institutions soon." He added that he was very
busy working through all the names on UNSCR 1747 in
order to implement the UNSCR.
2. (S) On March 28 Dubai Financial Services Authority
(DFSA) Director of Enforcement, Niall Coburn, informed OFAC
Attach that Bank Sepah International PLC,s application to
the Dubai International Financial Center had been withdrawn.
Mr. Coburn did not provide any reasons for the withdrawal of
the application. (Note. In December, Treasury A/S Patrick
O,Brien warned the DFSA about the dangers of doing business
with Bank Sepah (Ref E). USG conversations with DFSA should
not be disclosed to the UAE Central Bank. End note.)
3. (S) Comment: The UNSCR designation of Bank Sepah has
strengthened ongoing efforts to highlight concerns
about Bank Sepah with both the UAEG and the DFSA. Although
Bank Sepah does not operate in the UAE, U/S Levey highlighted
concerns that it might be using another Iranian bank, Bank
Melli, which does operate here, to conceal its operations.
End Comment.
SISON
SIPDIS
SIPDIS
DEPT FOR NEA/ARP, ISN/RA, ISN/CPI, EEB
TREASURY FOR AMANDA CURTIS
E.O. 12958: DECL: 03/26/2017
TAGS: KNNP KTFN PARM EFIN ETTC IR AE
SUBJECT: IMPORTANCE OF SWIFT IMPLEMENTATION OF UNSCR 1747
SANCTIONS ON BANK SEPAH
REF: A. SECSTATE 38553
B. ABU DHABI 510
C. ABU DHABI 473
D. ABU DHABI 367
E. ABU DHABI 146
Classified By: Ambassador Michele J. Sison for reasons 1.4 (b and d).
1.(S) On March 28, Econchief and OFAC Attach passed ref a
statement from Deputy Secretary of Treasury Kimmitt to
Ahmed Al-Qamzi, Head of the International Division of the
Anti-Money Laundering and Suspicious Cases Unit of the
Central Bank and emphasized the need to take swift action on
the implementation of UNSCR 1747, especially on Bank Sepah
and Bank Sepah International. Al-Qamzi said that he received
a copy of UNSCR 1747 on March 26 from the UAE MFA and that
the Central Bank would be issuing a "freeze order and further
instructions (as per paragraphs 4 and 7 of the UNSCR) would
be issued to all banks, money changers, and financial
institutions soon." He added that he was very
busy working through all the names on UNSCR 1747 in
order to implement the UNSCR.
2. (S) On March 28 Dubai Financial Services Authority
(DFSA) Director of Enforcement, Niall Coburn, informed OFAC
Attach that Bank Sepah International PLC,s application to
the Dubai International Financial Center had been withdrawn.
Mr. Coburn did not provide any reasons for the withdrawal of
the application. (Note. In December, Treasury A/S Patrick
O,Brien warned the DFSA about the dangers of doing business
with Bank Sepah (Ref E). USG conversations with DFSA should
not be disclosed to the UAE Central Bank. End note.)
3. (S) Comment: The UNSCR designation of Bank Sepah has
strengthened ongoing efforts to highlight concerns
about Bank Sepah with both the UAEG and the DFSA. Although
Bank Sepah does not operate in the UAE, U/S Levey highlighted
concerns that it might be using another Iranian bank, Bank
Melli, which does operate here, to conceal its operations.
End Comment.
SISON