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Cablegate: Bank of Khartoum Requests Guidance On Delisting As Sdn

VZCZCXYZ0000
RR RUEHWEB

DE RUEHKH #1035 1921247
ZNR UUUUU ZZH
R 101247Z JUL 08
FM AMEMBASSY KHARTOUM
TO SECSTATE WASHDC 1298

UNCLAS KHARTOUM 001035

SENSITIVE
SIPDIS

DEPT FOR AF/SPG AND EEB/ESC/ESP(JOHN MARSHALL KLEIN)
DEPT PLS PASS TREASURY FOR OFAC

E.O. 12958: N/A
TAGS: ECON EFIN PREL SU
SUBJECT: BANK OF KHARTOUM REQUESTS GUIDANCE ON DELISTING AS SDN

1. (U) This is an action request - see para. 5.

2. (SBU) On July 10, Embassy was approached by Fadi Salim al Faqih,
General Manager of the commercial Bank of Khartoum, on what actions
the Bank might take and what procedures it should follow to be
removed from the list of Specially Designated Nationals (SDN). Al
Faqih said that he has made repeated attempts to contact OFAC for
guidance via email, but has received no response.

3. (SBU) According to al Faqih, 90% of the Bank of Khartoum's
equity is now in private hands, approximately 85% held by foreign
nationals, mostly from the UAE. The remaining 10% of the Bank's
stock still is held by the Central Bank of Sudan. Al Faqih said the
Central Bank has expressed its willingness to divest itself of the
remaining stock, which would make the Bank of Khartoum 100%
privately owned. He did not have an estimate off hand as to when
such a divestiture might be completed.

4. (SBU) Al Fadiq added that Bank of Khartoum provides the
financial services used by UNAMID in Darfur, including the payment
of salaries and wages, in cooperation with Citibank in New York. He
also indicated that the UN does the bulk of its financial
transactions world-wide through a branch of the Bank of Khartoum at
the UN in New York.

5. (SBU) Action request: Post requests guidance on what to inform
the Bank of Khartoum on how to proceed with a request to be delisted
as an SDN and what criteria, if any, it might have to meet to do
so.

FERNANDEZ

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