Anti-Money Laundering Council Resolution No. 227

CIRCULAR LETTER Series of 2003

TO: ALL BANKS, NON-BANKS, QUASI-BANKS,  TRUST ENTITIES AND ALL OTHER INSTITUTIONS AND THEIR SUBSlDlARlES AND AFFILIATES SUPERVISED OR REGULATED BY THE BANGKO SENTRAL NG PILIPINAS

Attached is a copy of Resolution No. 227 dated 4 April 2003 of the Anti-Money Laundering Council, relative to the letter-request dated 24 March 2003 of the United States Government addressed to the Governor of the Bangko Sentral ng Pilipinas, Rafael B. Buenaventura, “urging the Philippine Government to identify, freeze and prepare to transfer for the benefit of the Iraqi people any Iraqi government assets, as well as any ill-gotten gains of Saddam Hussein or his regime in the Philippines that have not already been frozen”.

For your guidance and appropriate action.

ALBERTO V. REYES Deputy Governor