Page 54 - Banking Finance February 2022
P. 54

RBI CIRCULAR

             2021. At the request of industry stakeholders, this  now forwarded the following Press Release dated
             timeline was extended to December 31, 2021 vide     December 29, 2021, issued by the United Nations
             circular CO.DPSS.POLC.No.S33/02-14-008/2020-2021    Security Council (UNSC) Committee established
             dated March 31, 2021. Further, regulations on CoF   pursuant to Resolutions 1267 (1999), 1989 (2011) and
             Tokenisation (CoFT) were issued vide circular       2253 (2015) concerning ISIL (Da’esh), Al-Qaida, and
             CO.DPSS.POLC.No.S-516/02-14-003/2021-22 dated       associated individuals, groups, undertakings and entities
             September 07, 2021 on “Tokenisation – Card          regarding changes in the List of individuals and entities
             Transactions: Permitting Card-on-File Tokenisation  subject to the assets freeze, travel ban and arms
             (CoFT) Services”.                                   embargo set out in paragraph 1 of UNSC resolution
                                                                 2368 (2017), and adopted under Chapter VII of the
         2. In light of various representations received in this
             regard, we advise as under:                         Charter of the United Nations.
             a) the timeline for storing of CoF data is extended by  Reference SCA/2/21(19) dated 29 December 2021
                 six months, i.e., till June 30, 2022; post this, such  regarding addition of 2 entries [QDi.432 Name: 1:
                 data shall be purged; and                       ASHRAF 2: AL-QIZANI 3: na 4: na and QDe.167 Name:
                                                                 JUND AL-KHILAFAH IN TUNISIA] in UNSC’s 1267/ 1989
             b) in addition to tokenisation, industry stakeholders
                 may devise alternate mechanism(s) to handle any  ISIL (Da'esh) & Al-Qaida Sanctions List.
                 use case (including recurring e-mandates, EMI   The UNSC press release concerning amendments to the
                 option, etc.) or post-transaction activity (including  list is available at URL: https://www.un.org/
                 chargeback handling, dispute resolution, reward /  securitycouncil/sanctions/1267/press-releases
                 loyalty programme, etc.) that currently involves /  3. Updated lists of individuals and entities linked to ISIL
                 requires storage of CoF data by entities other than  (Da'esh), Al-Qaida and Taliban are available at:
                 card issuers and card networks.
                                                                 www.un.org/securitycouncil/sanctions/1267/
         3. This directive is issued under Section 10 (2) read with  aq_sanctions_list
             Section 18 of Payment and Settlement Systems Act,
             2007 (Act 51 of 2007).                              https://www.un.org/securitycouncil/sanctions/1988/
                                                                 materials
         (Sudhanshu Prasad)
         General Manager (Officer in Charge)                  4. The details of the sanctions measures and exemptions
                                                                 are available at the following URL: https://
                                                                 w w w.un.org / securitycounci l/sanctions/
         Implementation of Section 51A of UAPA,                  1267#further_information
         1967: Updates to UNSC’s 1267/ 1989 ISIL              5. As per the instructions from the Ministry of Home

         (Da'esh) & Al-Qaida Sanctions List:                     Affairs (MHA), any request for delisting received by any
                                                                 Regulated Entity (RE) is to be forwarded electronically
         Addition of entries                                     to Joint Secretary (CTCR), MHA for consideration.
                                                                 Individuals, groups, undertakings or entities seeking to
         RBI/2021-22/145
                                                                 be removed from the Security Council’s ISIL (Da'esh)
                                             January 03, 2022    and Al-Qaida Sanctions List can submit their request for
                                                                 delisting to an independent and impartial
         1. Please refer to Section 51 of our Master Direction on
                                                                 Ombudsperson who has been appointed by the United
             Know Your Customer dated February 25, 2016 as       Nations Secretary-General. More details are available
             amended on May 10 , 2021, in terms of which         at the following URL: https://www.un.org/
             “Regulated Entities (REs) shall ensure that in terms of  securitycouncil/ombudsperson/application
             Section 51A of the Unlawful Activities (Prevention)
             (UAPA) Act, 1967, they do not have any account in the  6. In view of the above, REs are advised to take note of
             name of individuals/entities appearing in the lists of  the aforementioned UNSC communication and ensure
             individuals and entities, suspected of having terrorist  meticulous compliance.
             links, which are approved by and periodically circulated
             by the United Nations Security Council (UNSC).”  (Vivek Srivastava)
         2. In this regard, Ministry of External Affairs (MEA) has  General Manager

            54 | 2022 | FEBRUARY                                                           | BANKING FINANCE
   49   50   51   52   53   54   55   56   57   58   59