05/19/2008

News / Treasury Authorizes Unlimited Personal Remittances to Burma

Treasury Authorizes Unlimited Personal Remittances to Burma

Washington - The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), in consultation with the Department of State, has moved to ease the humanitarian crisis in Burma by removing the limit on funds that U.S. individuals are allowed to send to family and friends in Burma.

"The people of Burma need all the help we can provide during this crisis," said OFAC Director Adam J. Szubin. "This action will speed the flow of aid to the Burmese people by allowing Americans to send an unlimited amount of funds to their relatives and friends who are in need."

This action, made effective by the issuance of General License No. 15, authorizes U.S. 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. Prior to the issuance of this general license, noncommercial, personal remittances to Burma were only permitted if the total remittances did not exceed $300 per Burmese household in any consecutive three-month period.

General License No. 15 does not allow transfers by, to, or through persons blocked under the Burma sanctions program. This license, however, does allow transfers to be made utilizing the services of blocked financial institutions in Burma, provided the transfers are made through third-country banks and that debits or credits are not made to any blocked account that is on the books of a U.S. financial institution.

In addition, OFAC has amended General License No. 14. The previously issued General License No. 14 authorized the transfer of funds in support of not-for-profit humanitarian or religious activities in Burma only if they involved U.S. or third-country nongovernmental organizations (NGOs). The Amended General License No. 14 expands that 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, with the exception of the Government of Burma itself or any person blocked under the Burma sanctions program.

OFAC expects to re-issue the original General License No. 14, allowing transfers consistent with its terms to continue upon the expiration in 120 days of the Amended General License No. 14. U.S. persons also may continue to make charitable donations to NGOs in Burma that are authorized to operate pursuant to specific licenses that have been issued by OFAC.

Please visit the following link to access the new and amended general licenses:

http://www.treasury.gov/offices/enforcement/ofac/actions/20080509.shtml

OFAC also will send a corresponding regulatory amendment to the Federal Register for publication.

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 | 101 | 102 | 103 | 104 | 105 | 106 | 107 | 108 | 109 | 110 | 111 | 112 | 113 | 114 | 115 | 116 | 117 | 118 | 119 | 120 | 121 | 122 | 123 | 124 | 125 | 126 | 127 | 128 | 129 | 130 | 131 | 132 | 133 | 134 | 135 | 136 | 137 | 138 | 139 | 140 | 141 | 142 | 143 | 144 | 145 | 146 | 147 | 148 | 149 | 150 | 151 | 152 | 153 | 154 | 155 | 156 | 157 | 158 | 159 | 160 | 161 | 162 | 163