Exchange Control Circular No. 26/2015

Circular Reference: Exchange Control Circular No. 26/2015

Circular Date: 10 October 2015

Circular Status: In Force

United Nations Security Council resolutions against Iraq, Liberia, Democratic Republic of the Congo, Côte d’Ivoire, Sudan, Libyan Government and associates

Authorised Dealers are referred to Exchange Control Circular Nos. 26/2007, 4/2011, 5/2011 and 6/2011 relating to the above-mentioned matter and advised that the respective links in the above-mentioned Exchange Control Circulars are no longer active.

Authorised Dealers should be mindful that the lists of names of persons and/or entities that are subject to financial/economic restrictions imposed by the United Nations Security Council are updated regularly. The documents per country can be accessed at www.un.org by following the links:

  1. Iraq
    Welcome > Main Bodies > Security Council > Documents > Resolutions > 2003 > S/RES/1518(2003)
  2. Liberia
    Welcome > Main Bodies > Security Council > Documents > Resolutions > 2004 > S/RES/1532(2004)
  3. Democratic Republic of the Congo
    Welcome > Main Bodies > Security Council > Documents > Resolutions > 2004 > S/RES/1533(2004)
  4. Côte d’Ivoire
    Welcome > Main Bodies > Security Council > Documents > Resolutions > 2011 > S/RES/1975(2011)
  5. Sudan
    Welcome > Main Bodies > Security Council > Documents > Resolutions > 2005 > S/RES/1591(2005)
  6. Libya
    Welcome > Main Bodies > Security Council > Documents > Resolutions > 2011 > S/RES/1973(2011)

Institutions should not solely rely on the above-mentioned links provided by the Financial Surveillance Department (FinSurv) of the South African Reserve Bank.

Any attempt by the private sector to enter into any transaction directly or indirectly with any person and/or entity listed in the links above, or to remit any funds to them, must be reported to FinSurv.

As South Africa would wish to place certain restrictions on the use of assets in the Republic owned by nationals of or any person resident in the above-mentioned countries, Authorised Dealers must advise FinSurv immediately of any such assets in their books or under their control, with full details thereof.

Head: Financial Surveillance

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