Yemen Kuwait Bank

Country:

Yemen  

Status:Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Risk Level:99%

May harm your business future. Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action.

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Info:
The Houthis rely on a network of exchange houses, banks, and other financial intermediaries to receive funds from, and engage in illicit trade with, Iran, including the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). Senior Houthi officials, including Hashem Ismail Ali Ahmad al-Madani, the sanctioned governor of the Houthi-aligned central bank in Sana’a, have played key roles in transferring funds to the Houthis from the IRGC-QF.

Yemen Kuwait Bank aids the Houthis in exploiting the Yemeni banking sector to launder money and transfer funds to its allies, including Lebanese Hizballah. Yemen Kuwait Bank has helped the Houthis establish and finance front companies, which the group has used to facilitate Iranian oil sales in coordination with sanctioned Houthi-associated money exchange Swaid and Sons for Exchange Co.

Yemen Kuwait Bank is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Ansarallah.

“The Houthis rely on a few key financial institutions like Yemen Kuwait Bank to access the international financial system and finance their destabilizing attacks in the region,” said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith. “The United States is committed to disrupting these illicit channels and working with the internationally recognized Government of Yemen to ensure that the country’s banking sector remains insulated from Houthi influence.”

Engaging in certain transactions with the individuals designated today entails risk of secondary sanctions pursuant to E.O. 13224, as amended. Pursuant to this authority, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account of any foreign financial institution that knowingly conducted or facilitated any significant transaction on behalf of a Specially Designated Global Terrorist

Organization Established Date:
01 Jan 1977

Also Known As:
YEMEN KUWAIT BANK FOR TRADE AND INVESTMENT Y.S.C (Arabic: بنك اليمن والكويت للتجارة والإستثمار ش.م.ي) (a.k.a. YEMEN KUWAIT BANK FOR TRADE AND INVESTMENT

Country:
Yemen

Address:
YKB Building, Al Zubairi St, Sana’a, Yemen; Aden, Yemen; Taiz, Yemen; Hodeida, Yemen; Al Mukalla, Yemen

Registration Number:
342/21 (Yemen)

Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on January 17, 2025 pursuant to Executive Order 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Ansarallah;