Bank restates UN obligations

The bank says it has written to the businesses restating the current UN sanctions, which includes regulations that came into force in March this year forbidding any financial transactions with Afghanistan, terror suspect Osama bin Laden and the organisation known as al Qaeda.

The bank says the letter is not taking any additional steps but reminds banks and other financial institutions of what is required of them, given New Zealand's international commitments.

"While we do not expect that there will be any known assets of terrorists held within New Zealand financial institutions, please ensure you notify the Reserve Bank if your institution becomes aware of any such assets," the letter says."

Other countries with UN financial sanctions currently against them include Iraq, Libya, and Angola.

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