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FOREIGN ASSETS CONTROL ACT

BSA/AML, OFAC and Fraud
June 4, 2003


TO: CHIEF EXECUTIVE OFFICER (also of interest to Compliance Officer)
SUBJECT: Facilitation of Non-Commercial Humanitarian Funds Transfers (Iraq)
Summary: Treasury's Office of Foreign Assets Control has made available in the Interpretative Rulings area of its Web site guidance entitled "Facilitation of non-commercial humanitarian funds transfers (Iraq)."

On May 22, 2003, the Department of the Treasury's Office of Foreign Assets Control (OFAC) made available in the Interpretative Rulings area of its Web site guidance entitled "Facilitation of non-commercial humanitarian funds transfers (Iraq)," and assigned Ruling Number 030521-FACRL-IQ-01 to it. A copy of the guidance is attached.

Additional information concerning OFAC-related issues may be found on the Internet at https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information .

Please distribute this information to the appropriate personnel in your institution. For further information about Executive Orders or control regulations, please call OFAC's Compliance Programs Division at 1-800-540-6322.

For your reference, FDIC Financial Institution Letters may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2003/index.html . To learn how to automatically receive FDIC Financial Institution Letters through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html .


Michael J. Zamorski
Director

Attachment: IRAQI SanctionsRegulations (31 CFR Part 575) PDF (22 KB File - PDF Help or Hard Copy )

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342, option 5, or (703) 562-2200).


Last Updated: June 4, 2003