October 19, 2020

OFAC designates gemstone dealer and his company for Al-Qa’ida support

On October 19, 2020, the US Department of the Treasury’s Office of Foreign Assets Control designated Ahmed Luqman Talib, a gemstone dealer, and his company Talib and Sons,  pursuant to Executive Order 13224, as amended, for providing assistance to Al-Qa’ida.  As a gemstone dealer, Talib has financial ties around the world that enable him to move both individuals and funds internationally for the benefit of Al-Qa’ida.  Talib’s company, Talib and Sons, was designated for being owned or controlled by Talib. 

As a result of these designations, US property controlled by Talib is blocked, and transactions with the designated persons are generally prohibited.  In addition, any foreign financial institution that knowingly conducts transactions on behalf of a designated person or entity could be subject to US correspondent account or payable-through sanctions.

OFAC Press Release