Blocking Syrian fighters’ financial resources

At the proposal of Minister of Finance Johan Van Overtveldt, the Belgian National Security Council has approved a circular pursuant to which the fight against terrorism is continued. The circular discusses the procedure for blocking the financial resources of people and organisations that commit, plan or cooperate in terrorist offences. The approval procedure is part of the 12 antiterrorism measures that have already been taken by the government.

From now on, the Coordination Unit for Threat Analysis (OCAD) can provide the Belgian National Security Council with the personal data of people and entities linked to terrorist offences, after which these data will be put in a national list. The Council of Ministers has final decision-making power concerning changes to this list. Financial institutions and other involved parties can base themselves on this same list to block the credit and financial resources (cash, bank account balances, loans, stocks and Bonds A loan to a company or a government, which is paid back with interest. In contrast to shares, most bonds have a fixed duration and a fixed interest, which is usually paid out on an annual basis. Therefore, as a general rule, bonds have less risk than shares. bonds , etc.) belonging to the names on the lists, or conversely to end this freeze.

“This measure is an important component in our fight against terrorism,” says Minister Van Overtveldt. “It makes it possible for both our security forces and financial institutions to take the wind out of the sails of these terrorist organisations and dangerous individuals.”