Financial Institution Letters Foreign Assets Control Act
January 8, 2004
CHIEF EXECUTIVE OFFICER (also of interest to BSA Compliance Officer)
General License Issued Under Iranian Sanctions
Treasury's Office of Foreign Assets Control has authorized funds transfers to Iran for humanitarian relief.
Effective December 26, 2003, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License Number 1, which authorizes a 90-day period for people living in the United States to make donations of funds to nongovernmental organizations for the direct support of humanitarian relief and reconstruction activities being undertaken as a result of the earthquake in Bam, Iran. A copy of the General License is attached.
Please distribute this information to the appropriate personnel in your institution. For more information about Executive Orders or control regulations, please call OFAC's Compliance Programs Division at 1-800-540-6322.
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 or (703) 562-2200).