Financial Crime World

Qatar’s OFAC Sanctions List Adds Seven Individuals and One Entity

The US Office of Foreign Assets Control (OFAC) has taken a significant step in combating terrorism financing and other illicit activities by adding seven individuals and one entity to its Specially Designated Nationals (SDN) list, with ties to Qatar.

Sanctioned Individuals

The following individuals have been added to the SDN list:

  • Ali Reda Hassan Al Banai
  • Yahya Muhammad Al-‘Abd-al-Muhsin
  • Abd al-Muayyid Al Banai
  • Sulaiman Al Banai
  • Majdi Fa’iz Al-Ustadz
  • ‘Ali Ridha Qasabi Lari
  • ‘Abd Al-Rahman ‘Abd Al-Nabi Shams

According to OFAC, Ali Reda Hassan Al Banai has been linked to Hizballah, a designated terrorist organization. His residences in Qatar, the United Kingdom, and Saudi Arabia were also listed as sanctioned locations.

Yahya Muhammad Al-‘Abd-al-Muhsin is a citizen of Saudi Arabia and has also been linked to Hizballah.

Additional Sanctions

The following individuals were added to the list for their alleged ties to Ali Reda Hassan Al Banai:

  • Abd al-Muayyid Al Banai
  • Sulaiman Al Banai
  • Majdi Fa’iz Al-Ustadz
  • ‘Ali Ridha Qasabi Lari
  • ‘Abd Al-Rahman ‘Abd Al-Nabi Shams

Sanctioned Entity

ALDAR PROPERTIES, a real estate company based in Qatar, was also sanctioned by OFAC. The entity is linked to Sulaiman Al Banai and has been designated for its involvement in real estate activities with own or leased property.

Aim of the Sanctions

These sanctions aim to disrupt the financial networks of individuals and entities suspected of supporting terrorist organizations and other illicit activities.