The personal and business accounts at local commercial banks of businessmen Azurrudin and Nazar Mohamed were closed almost immediately following the announcement of sanctions by the United States Department of the Treasury, sources close to the banking sector say.
It was explained that the banks notified the businessmen and the end of doing business with them went smoothly.
Insurance companies followed suit and regulatory agencies here understand that “all of the entities in the financial sector that were doing business with the Mohameds have stopped doing so” a source told the Sunday Stabroek.
