Beijing, Jan 17 (IANS): A rule enabling Chinese banks to freeze terrorists' assets has come into force, the People's Bank of China said Friday.
The rule, made jointly by the People's Bank of China, the public security ministry and the state security ministry, went into effect Jan 10, Xinhua cited the central bank's website as saying in a statement.
According to the bank, the measure would prevent terrorism and was in accordance with the UN's guidelines that all nations freeze, without delay, funds or other assets of terrorists.
The nation's top legislature required financial and certain non-financial organisations to freeze terrorists' assets in 2011.
Assets of terrorists would be frozen immediately after the public security ministry releases the names of terrorists.
The regulation mainly applies at home, but also affects overseas branches and affiliates of relevant organisations, the statement said.