Bahrain Accuses Future Bank, Iranian Banks of Money Laundering

The pink supermoon rises next to Bahrain World Trade Centre in Manama, Bahrain April 7, 2020. (Reuters)
The pink supermoon rises next to Bahrain World Trade Centre in Manama, Bahrain April 7, 2020. (Reuters)
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Bahrain Accuses Future Bank, Iranian Banks of Money Laundering

The pink supermoon rises next to Bahrain World Trade Centre in Manama, Bahrain April 7, 2020. (Reuters)
The pink supermoon rises next to Bahrain World Trade Centre in Manama, Bahrain April 7, 2020. (Reuters)

The high criminal court of Bahrain accused on Thursday the Iran-owned Future Bank, five of its officials and several Iranian banks of money laundering.

The bank officials were sentenced to five years in prison and fined 1 million dinars each, report the Bahrain news agency (BNA).

The other involved banks were fined 1 million dinars each and the financial sums at the heart of the case were seized. They are estimated at around 43 million dollars.

Earlier this year, the Public Prosecution said that the Future Bank, which operated under the supervision of Bank Melli Iran and Bank Saderat Iran, carried out thousands of international financial transactions while providing cover for Iranian entities by concealing and deliberately removing basic information when transferring funds via the SWIFT network.

Bahraini authorities suspended activities of the bank in 2012 due to UN sanctions on Iran. Manama has been accusing the bank of being a terrorism financing channel since Feb. 14, 2011.



Saudi Crown Prince Receives Written Message from President of Angola

Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of Saudi Arabia. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of Saudi Arabia. (SPA)
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Saudi Crown Prince Receives Written Message from President of Angola

Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of Saudi Arabia. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of Saudi Arabia. (SPA)

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, who is also Prime Minister of the Kingdom, has received a written message from Angolan President João Manuel Gonçalves Lourenço, addressing relations and ways to boost ties in various fields, SPA reported.

Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah received the message from Angolan Minister of External Relations Téte António, with whom he reviewed relations, ways to boost ties, and issues of common interest, SPA said.