Pursuant to section 3B (3)(a) of the International Obligations (Economic & Ancillary Measures) (Amendment) Act, 2019 and International Obligations (Economic & Ancillary Measures) (United States of America) (Unilateral Sanctions) Directions, 2019 supervised financial institutions (“SFIs”), are informed regarding updates made by the Government of The United States of America with respect to U.S. Executive Orders, where designated entities listed in the Annex, have engaged or attempted to engage, in activities or transactions that have materially contributed to, or pose a risk of materially contributing to, the proliferation of weapons of mass destruction or their means of delivery, including any efforts to manufacture, acquire, possess, develop, transport, transfer or use such items, by any person or foreign country of proliferation concern. As such, all SFIs licensed in The Bahamas, as a matter of high priority, are required to perform a search of their databases and registers of beneficial owners for any person [or entity] named in the U.S. Executive Order.
