The We Invest in Nationhood (WIN) party is calling on the commercial banks that closed the accounts of its candidates to restore those accounts.

The call has been made by party officials following a correspondence from the US Treasury Department’s Office of Foreign Assets Control (OFAC), which instituted sanctions back in 2024 against Azruddin and Nazar Mohamed and their businesses along with Government Permanent Secretary Mae Thomas.

Azruddin Mohamed is the Presidential Candidate of the WIN party.

In a correspondence from OFAC to the Attorneys representing WIN, the US agency in response to a query stated that “the implications of transacting with a political party led by an individual sanctioned by OFAC, or with members of such a political party, would depend on whether the sanctioned individual is involved in the transaction”.

The correspondence further stated that ” US financial institutions would not violate sanctions for maintaining the account of or processing a transaction involving a non-sanctioned organization or non-sanctioned members of that organization solely because another member of that organization is sanctioned”.

The correspondence went on to state that US financial institutions would be prohibited from engaging in such transactions if the sanctioned individual has an interest in the accounts or transactions.

“Unless exempt or otherwise authorized by a general or specific license from OFAC, transactions with sanctioned persons by US persons are generally prohibited, and non-US persons could also face sanctions risk for certain activities involving sanctioned persons, such as providing material support to them”, the correspondence stated.

OFAC also said it will not direct an entity to conduct activity that undermines its policies and procedures.

In a statement on social media, WIN party member, Hana Mohamed said the correspondence from OFAC makes it clear, that sanctions against Mr. Mohamed do not extend to other WIN officials.

“Financial institutions acted outside the scope of U.S. regulations by targeting non-sanctioned candidates. Closing their accounts was political victimization, not compliance with U.S. law. Banks had NO legal grounds and must immediately restore these accounts as financial institutions must act in accordance with the official guidance from OFAC”, she stated.

In the past month, at least three commercial banks have closed the accounts of persons who have appeared as Candidates on the approved Nomination Candidates’ list of the WIN party. In many of those instances, the affected persons said they were told by at least one bank that the closure of the account was related to the bank’s internal policies. Some of the banks have pointed to the 2024 sanctions against Azruddin Mohamed.

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