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 Leadership Condoles Iranian President over Victims of Port Explosion

The Custodian of the Two Holy Mosques and the Saudi Crown Prince. SPA
The Custodian of the Two Holy Mosques and the Saudi Crown Prince. SPA
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Saudi Leadership Condoles Iranian President over Victims of Port Explosion

The Custodian of the Two Holy Mosques and the Saudi Crown Prince. SPA
The Custodian of the Two Holy Mosques and the Saudi Crown Prince. SPA

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has sent a cable of condolences to Iranian President Dr. Masoud Pezeshkian over the victims of the explosion that occurred at Rajaei Port in Bandar Abbas.

The Custodian of the Two Holy Mosques extended his sincere condolences and sympathy to the Iranian President, the families of the deceased, and the people of Iran.

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, has sent a similar cable of condolences to Pezeshkian.