Extended tournaments (see Rule 803) have always banned this card.
Note - Due to a printing error, the Revised Edition version of this card has a green background and the picture of the Ifh-Biff Efreet while having the blue mana cost and characteristics of the Serendib Efreet. It is still a blue card because the mana cost (not the color on the back of the card) determines a card's color.