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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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Muslim World League Condemns Jammu, Kashmir Terrorist Attack

Muslim World League Condemns Jammu, Kashmir Terrorist Attack
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Muslim World League Condemns Jammu, Kashmir Terrorist Attack

Muslim World League Condemns Jammu, Kashmir Terrorist Attack

The Muslim World League (MWL) has condemned the terrorist attack in the Pahalgam area of Jammu and Kashmir, which resulted in dozens of innocent civilian casualties.
In a statement, the MWL affirmed its, and the entire Islamic world's, rejection and condemnation of violence and terrorism in all its forms and under any pretext, as well as its rejection of linking such acts to any religion or culture. It extended condolences to the victims' families and wished the injured a speedy recovery, SPA reported.
The MWL's General Secretariat also highlighted the joint statement issued following Indian Prime Minister Narendra Modi's state visit to Saudi Arabia, which condemned the attack and rejected any attempt to link it to race, religion, or culture.
The league commended the pivotal Saudi-Indian cooperation in combating terrorism and its financing, denouncing cross-border terrorism, dismantling its infrastructure, and bringing its perpetrators to justice.