SBP asks banks not to open accounts of members of banned organisations

http://www.dailytimes.com.pk/default.asp?page=2009\03\25\story_25-3-2009_pg1_4

LAHORE: The State Bank of Pakistan (SBP) has issued a list of members of banned outfits and ordered all banks to scrutinise the list before opening accounts or transferring money, sources told Daily Times on Tuesday.

A bank official, seeking anonymity, said the purpose of the list was to stop the banned outfits from operating their accounts and transferring money. However, people would face delays in opening accounts or transferring money, as it would take time to scrutinise the list, he added.

SBP spokesman Syed Waseemuddin said Pakistan was bound to follow the instructions of the United Nations, which had banned several religious outfits for their alleged involvement in terrorism. He said the list, provided by the UN, was regularly updated.

Last year, the United Nations Security Council had placed sanctions against Jamatud Dawa, a front organisation for
Lashkar-e-Taiba (LT), declaring it a terrorist organisation.

The council panel has designated four men linked to the Mumbai attacks as terrorists subject to sanctions.