National Housing Bank cautions
Indian housing finance companies
NHB. (National Housing Bank) is state-owned bank and the national regulatory authority for the housing finance sector. It has sent a cautionary notice to all registered housing finance companies to ensure that terrorist entities linked to Al Qaeda and the Taliban are not their customers.
NHB has also put up the notice on its website, http://nhb.org.in/ to help prevent money laundering and financing of terrorism. These notices are issued under the direction of the Reserve Bank of India (RBI).
N.H.B's notice contains a list of 20-odd entities associated with terror organisations, as declared by the United Nations. The main names include Bosanka Idealna ,Futura Global Relief Foundation, Benevolence International Foundation and their allied organisations across the world.
Inidan housing financing companies have been advised to update the consolidated list of individuals and entities linked to Taliban and Al Qaeda.
."Before opening any new account, it should be ensured that the name of the proposed customer does not appear in the list," N.H.B says in its notice. Also, housing finance companies should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the terrorism list.
The idea is to tell the housing finance companies to exercise caution while doing financial transactions. This is an ongoing exercise as part of a government to government agreement to share terrorist organisation details.
Indian housing finance companies
NHB. (National Housing Bank) is state-owned bank and the national regulatory authority for the housing finance sector. It has sent a cautionary notice to all registered housing finance companies to ensure that terrorist entities linked to Al Qaeda and the Taliban are not their customers.
NHB has also put up the notice on its website, http://nhb.org.in/ to help prevent money laundering and financing of terrorism. These notices are issued under the direction of the Reserve Bank of India (RBI).
N.H.B's notice contains a list of 20-odd entities associated with terror organisations, as declared by the United Nations. The main names include Bosanka Idealna ,Futura Global Relief Foundation, Benevolence International Foundation and their allied organisations across the world.
Inidan housing financing companies have been advised to update the consolidated list of individuals and entities linked to Taliban and Al Qaeda.
."Before opening any new account, it should be ensured that the name of the proposed customer does not appear in the list," N.H.B says in its notice. Also, housing finance companies should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the terrorism list.
The idea is to tell the housing finance companies to exercise caution while doing financial transactions. This is an ongoing exercise as part of a government to government agreement to share terrorist organisation details.
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