Bahrain Fines Iranian Banks Implicated in Money Laundering

A night view of Manama, Bahrain. (Reuters)
A night view of Manama, Bahrain. (Reuters)
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Bahrain Fines Iranian Banks Implicated in Money Laundering

A night view of Manama, Bahrain. (Reuters)
A night view of Manama, Bahrain. (Reuters)

Bahrain's High Criminal Court sentenced on Thursday three Future Bank officials to five years in prison each and imposed up to $1 million fines in a series of money-laundering cases committed by the Central Bank of Iran and other banks.

The court sentenced the Central Bank of Iran and the other banks implicated in the wide money-laundering scheme to fines of $1 million each, General Advocate Nayef Youssef Mahmood said.

The total of fines imposed on the Iran Central Bank, other Iranian banks and the three Future Bank officials in seven cases reached $47 million.

The court also ordered the confiscation of the illegally transferred money that reached $13 million, Nayed said, according to the Bahrain News Agency.

The Public Prosecution had previously announced that its investigations had revealed that the Central Bank of Iran planned to launder billions of dollars through the Future Bank that was established in Bahrain and controlled by two Iranian banks, Bank Melli Iran and Bank Saderat Iran, to pass suspicious financial transactions in favor of Iranian entities, mainly the Central Bank of Iran, in violation of laws and regulations.



Mohammed bin Salman Takes Prince William on Tour of Diriyah

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Britain's Prince William, Prince of Wales pose for a photograph at the UNESCO World Heritage site At-Turaif, February 9, 2026, in Riyadh, Saudi Arabia. (Reuters)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Britain's Prince William, Prince of Wales pose for a photograph at the UNESCO World Heritage site At-Turaif, February 9, 2026, in Riyadh, Saudi Arabia. (Reuters)
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Mohammed bin Salman Takes Prince William on Tour of Diriyah

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Britain's Prince William, Prince of Wales pose for a photograph at the UNESCO World Heritage site At-Turaif, February 9, 2026, in Riyadh, Saudi Arabia. (Reuters)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Britain's Prince William, Prince of Wales pose for a photograph at the UNESCO World Heritage site At-Turaif, February 9, 2026, in Riyadh, Saudi Arabia. (Reuters)

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, took on Monday Britain’s Prince William on a tour of Diriyah in the At-Turaif UNESCO World Heritage Site 

Prince William had arrived in Saudi Arabia earlier on Monday for a first official visit, aimed at deepening economic cooperation. 

He was greeted at the airport by the deputy governor of the Riyadh region, Prince Mohammed bin Abdulrahman bin Abdulaziz, the official Saudi Press Agency reported. 

The trip, which will wrap up on Wednesday, aims to celebrate growing trade, energy and investment ties ahead of the two nations marking a century of diplomatic relations. 

William, a keen environmentalist, is also set to visit the historic city of AlUla, where he will learn about conservation efforts, according to Kensington Palace. 


World Defense Show 2026: Saudi Arabia Committed to Building Advanced, Competitive Defense Industry

The World Defense Show 2026 continues throughout the week with live demonstrations, strategic programs, and engagements spanning air, land, sea, space, and security domains - SPA
The World Defense Show 2026 continues throughout the week with live demonstrations, strategic programs, and engagements spanning air, land, sea, space, and security domains - SPA
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World Defense Show 2026: Saudi Arabia Committed to Building Advanced, Competitive Defense Industry

The World Defense Show 2026 continues throughout the week with live demonstrations, strategic programs, and engagements spanning air, land, sea, space, and security domains - SPA
The World Defense Show 2026 continues throughout the week with live demonstrations, strategic programs, and engagements spanning air, land, sea, space, and security domains - SPA

The World Defense Show (WDS) 2026, which is organized by the General Authority for Military Industries (GAMI), entered its second day on Monday with a strong focus on innovation and defense integration, supporting national industrial development and the advancement of future capabilities.

GAMI Governor Ahmad Abdulaziz Al-Ohali delivered keynotes reaffirming the Kingdom’s commitment to building an advanced, globally competitive defense industry.

He stated that Saudi Arabia continues to invest in a defense industry built on innovation and partnership, ensuring an integrated approach to defense and security.

According to SPA, he added that WDS 2026 reflects the Kingdom’s ambition to lead globally through technologies that enhance readiness, strengthen supply chains, and support localization under Vision 2030.

Following these remarks, senior Saudi defense leadership led a series of high-level discussions framing the strategic direction of the Kingdom’s defense transformation. Chief of the General Staff General Fayyad Al-Ruwaili delivered an address highlighting the priority of building a future-ready, integrated defense and discussing how global operational trends shape the Kingdom’s approach.

Across the wider venue, the Content Theater Program officially opened, bringing together senior Saudi and international speakers for high-level discussions on industrial development, aerospace growth, defense investment, and supply-chain strengthening. These sessions underscored the Kingdom’s strategic direction and its commitment to building a future-ready defense ecosystem. Parallel to the leadership program, activity across the Future Defense Lab and the Saudi Supply Chain Zone continued to facilitate expert engagement and industry dialogue, serving as additional platforms to support collaboration and capability development.

CEO of World Defense Show Andrew Pearcey said: “Day Two demonstrated the Kingdom’s growing influence in shaping the future of defense technologies and industrial capability. Through strong participation, forward-looking programs, and strategic leadership, WDS continues to serve as a global meeting point for innovation and collaboration.”

The World Defense Show 2026 continues throughout the week with live demonstrations, strategic programs, and engagements spanning air, land, sea, space, and security domains. This year’s edition brings together 1468 exhibitors from 89 countries, with participation from defense leaders, innovators, and investors contributing to Saudi Arabia’s long-term industrial transformation.


Saudi Foreign Minister, Slovak Deputy Prime Minister Sign General Cooperation Agreement

The two sides signed a general cooperation agreement aimed at enhancing cooperation and mutual understanding across various fields - SPA
The two sides signed a general cooperation agreement aimed at enhancing cooperation and mutual understanding across various fields - SPA
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Saudi Foreign Minister, Slovak Deputy Prime Minister Sign General Cooperation Agreement

The two sides signed a general cooperation agreement aimed at enhancing cooperation and mutual understanding across various fields - SPA
The two sides signed a general cooperation agreement aimed at enhancing cooperation and mutual understanding across various fields - SPA

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah met in Riyadh Monday Deputy Prime Minister and Minister of Defense of the Slovak Republic Robert Kaliňák.

They reviewed ways to strengthen cooperation between the two countries in a manner that serves their mutual interests and discussed regional and international developments, SPA reported.

The two sides signed a general cooperation agreement between the Government of the Kingdom of Saudi Arabia and the Government of the Slovak Republic, aimed at enhancing cooperation and mutual understanding across various fields.