OFAC Creates General Licenses to Help Burma
July 2008
The Treasury Department’s Office of Foreign Assets Control has posted amendments to General License Number 14 and posted a new general license, General License number 15 under the Burmese Sanctions regulations.
The Burma Sanctions are available at:
http://www.treas.gov/offices/enforcement/ofac/programs/burma/burma.pdf (PDF)
General License Number 14 previously only authorized the transfer of funds in support of not-for- profit humanitarian or religious activities in Burma only if they involved US or third-country NGO’s. The amendment will expand the authorization for a period of 120 days to allow funding to any organization or individual engaged in not-for-profit humanitarian or religious activities in Burma. This amendment is a result of the devastation left by Cyclone Nargis, in .Myanmar, Burma
General License Number 15 allows US financial institutions to process transfers of funds, unlimited in amount, for noncommercial, personal remittances to or from Burma, or for or on behalf of an individual ordinarily resident in Burma. Before the issuance of this license noncommercial, personal remittances to Burma were permitted only insofar as total remittances did not exceed $300 per Burmese household in any consecutive three month period. This new license has no such limitations.
More information:
- General License Number 14:
www.treas.gov/offices/enforcement/ofac/programs/burma/gls/burmagl14_amend.pdf (PDF) - General License Number 15:
http://www.treas.gov/offices/enforcement/ofac/programs/burma/gls/burmagl15.pdf (PDF)
