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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)
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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.

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Saudi Arabia Railways Announces Full Operational Readiness of Mashaer Train for Hajj 

The Mashaer Metro Train operates a fleet of 17 trains, each with a capacity of 3,000 passengers. (SPA)
The Mashaer Metro Train operates a fleet of 17 trains, each with a capacity of 3,000 passengers. (SPA)
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Saudi Arabia Railways Announces Full Operational Readiness of Mashaer Train for Hajj 

The Mashaer Metro Train operates a fleet of 17 trains, each with a capacity of 3,000 passengers. (SPA)
The Mashaer Metro Train operates a fleet of 17 trains, each with a capacity of 3,000 passengers. (SPA)

Saudi Arabia Railways (SAR) announced the full operational readiness of the Mashaer Metro Train for this year’s Hajj starting Tuesday.

SAR completed its preparations in coordination with various relevant entities. Comprehensive operational preparation included nearly 12,000 trial trips since January, in addition to four full-scale simulation exercises accurately replicating the conditions of the Hajj season to test the readiness of systems, trains, and stations and ensure safe and efficient operations.

The Mashaer Metro Train operates on five service patterns tailored to the different Hajj rituals, making it a unique transport system globally.

During the Hajj, the train is scheduled to carry out more than 2,000 trips, aiming to transport over two million passengers with high efficiency and precise organization.

SAR conducted extensive maintenance and rigorous testing on all facilities and stations of the project to ensure their readiness and compliance with safety and quality standards.

The train connects nine stations across the holy sites of Arafat, Muzdalifah, and Mina, with the final station in Mina located on the fourth level of the Jamarat Bridge, ensuring the smooth movement and safety of pilgrims.

The Mashaer Metro Train is one of the region’s most significant sustainable transport projects. It operates a fleet of 17 trains, each with a capacity of 3,000 passengers, enabling a total transport capacity exceeding 72,000 passengers per hour. This helps reduce congestion in the holy sites, lower carbon emissions, and provide a smart, safe, and environmentally friendly travel experience.

The operation of the train reflects SAR’s commitment to supporting Saudi Vision 2030 by enabling a reliable, efficient, and sustainable transport experience for pilgrims, showcasing the Kingdom’s advanced infrastructure and improving the quality of services.