AMLC Resolution No. 90

SUPERVISION ANE EXAMINATION SECTOR OFFICE OF tHE OErUty gOVerNOr

CIrCULAR-LeTTER

To: All Banks and Non-Bank Financial Institutions

Under BsP Supervision

the Anti-Money Laundering Council relative to the request of the Government of the United States of America for irniormation about Hotef Nasco, including the blocking of its assets. Attached is a copy of Resolutior: No. 90 dated 15 August 2005 issued by

Designated Global Terrorist (SDGT). Hotel Nasco is being managed by Nasco Business Residence which is designated domestically by the US Government individual named by the United States Department of the Treasury as a Specially because of its association with the A-Qaida. Hotel Nasco is owned and operated by Ahmed Idris Nasreddin, an

covered or suspicious transactiors, if any, involving the Nasco Business Money Laundering Act (AMLA), a# arerded and Rule 9.3 of the Revised Implementing Rules and Regulatio s supervision are hereby directed : submit directly to the Council reports of Residence and/or Hotel Nasco in accordance with Sections 7 and 9 of the Anti- In view thereof, all banks aid non-bank financial institutions under BSP

Thank you for your cooperatio!?.

ESTOR A ESPENILLA Jf

Deputy Governo Att.: A/S

Z : 2005

PANANALAPING MATATAG, BANSANG PANATAG A. Mahini St., Malate 1004, Manila, Philippines Trunkking.{62.) 524.7(-1 i URL:www.bsp.goV.ph e-mail: [email protected]

Anti-Moteo k.amacrine Councu Bangko Sontral ng Piipinas Complex MarHa, Phiippines

RESOLUTION NO. 90., Series of 2005

information inctuding the blocking of assets of Hotei Nasco. States of America, through its Embassy in Manila requests the Philippines for Whereas, in a ietter dated 27 July 2005, the Government of the United

experierice as Nasco Residence". an individual named as a Specially Dasignated Global Terrorist (SDGT) on 19 April 2002 by the US Department of trie Treasury. Hotel Nasco's website states: "Hotel Nasco opens in September Z001 in Milan benefiting from 30 years of Whereas, Hotel Nasco is owr:ed and operated by Ahmed idris Nasreddin,

Hote! Nasco. The Nasco Business Residence was designated domesticaily by al-Qaida. The UN 1267 Committee added the name to its list on 3 September the United States on 29 August 2002 because the organization is associated with 2002 Whereas, according to a lease, Nasco Business Residence manages

Nasco Business Residence Center to include the name Hotel Nasco. Whereas, on 19 July 2005, the United States amended its designation of

the Nasco Business Residence to includa the name Hotel Nasco. Whereas, on 25 July 2005, the LN 1267 Committee amended its listing of

the international coalition against terrorism, the Philippines, through the Anti- Money Laundering Councit, must actively support the actions required under the subject UNSC Resolutions. Resolution (UNSCR) 1373 require UN rrember states to freeze terrorist assets without delay and to prohibit their nationais or persons in their territories from financing terrorism. As a charter mernber of the United Nations and as part of Whereas, the provisions of the Uinited Nations Security Council

Laundering Act (AMLA), as amended and Ruie 9.3 of the Revised Implementing ail covered institutions under their respective jurisdictions, copy of this Resolution and to direct the covered institutions to submit directly to the Council reports of covered or suspicious transactions, if ary, involving Nasco Business Residence and/or Hotel Nasco in accordance viti: Sections"7 and 9 of the Anti-Money Supervising Authorities, namely: the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission, and the irsurance Cormmission to circularize among Wherefore, the Council reso'vos, as it is nereby resolved, to require the

Rules and Regulations and othe: r:::: o: applicable rules, regulations, circulars and operating manuais prorIge y the Supervising Authorities.

August 2005, Manila, Phil*pircs

(Governcr. Bangko Sentral ng Pilipinas) AMANdO Mi. tetAngCO, Jr. Chairmar

(Chairperson, Securities and Exchange Corrimission) FE B.BARIN Je F Member (Comrmissioner, insurance Commission) DENJAMin S. SAntOS Member