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Bahrain Public Prosecution Refers Central Bank of Iran to Court for Laundering Over $1Bln

Public Prosecution in Bahrain referred the Central Bank of Iran and several other banks to criminal trial on money laundering charges.
Public Prosecution in Bahrain referred the Central Bank of Iran and several other banks to criminal trial on money laundering charges.
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Bahrain Public Prosecution Refers Central Bank of Iran to Court for Laundering Over $1Bln

Public Prosecution in Bahrain referred the Central Bank of Iran and several other banks to criminal trial on money laundering charges.
Public Prosecution in Bahrain referred the Central Bank of Iran and several other banks to criminal trial on money laundering charges.

Public Prosecution in Bahrain referred the Central Bank of Iran and several other banks to criminal trial on charges of laundering more than $1.3 billion through the Manama-based Future Bank, which the kingdom shut in 2016.

Bahrain's Attorney General Dr. Ali bin Fadhel Al Buainain said that following intensive investigations conducted by the Public Prosecution in relation to money laundering allegations against officials of Future Bank in Bahrain and associated Iranian banks abroad during 2008-2012, other unlawful banking practices have been uncovered.

The Central Bank of Iran issued instructions to Future Bank on the use of an unapproved alternative transfer system to complete banking operations with the aim of concealing the source and movement of funds, benefitting Iranian banks and circumventing international sanctions and restrictions on transactions imposed against Iranian entities.

Future Bank officials, in conjunction with other Iranian bank officials and the Central Bank of Iran, carried out sending and transferring operations. They received more than $1.3 billion via an alternative system. Funds were transferred and received, kept as a discount, added to the account of Iranian banks, settled in bank accounts, and had their source concealed to enable those banks to complete unlawful transfers of funds, as part of a huge money laundering scheme.

Based on the weight of physical evidence, the Public Prosecution has referred a number of accused for prosecution, including Future Bank, Bank Melli Iran, Bank Saderat Iran and other Iranian banks, in addition to the Central Bank of Iran.

Investigations continue into other similar violations carried out through Future Bank and Iranian banks, with the aim of determining further criminal conduct, its temporal and spatial extent, and the deviations of funds that are the subject of those crimes. It is expected that further suspects will be identified.

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Gulf

Saudi Leadership Condoles Governor General of Canada over School Shooting

Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)
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Saudi Leadership Condoles Governor General of Canada over School Shooting

Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud sent a cable of condolences to Governor General of Canada Mary Simon over the deadly school shooting in Western Canada.

The Saudi King condemned the heinous criminal act and expressed to the Governor General, the families of the victims, and the friendly people of Canada his deepest condolences and sincere sympathy, wishing the injured a speedy recovery.

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

Gulf

Saudi Health Minister: We Act Proactively on Health Risks

Saudi Health Minister: We Act Proactively on Health Risks
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Saudi Health Minister: We Act Proactively on Health Risks

Saudi Health Minister: We Act Proactively on Health Risks

Saudi Arabia’s Cabinet, chaired Tuesday by Custodian of the Two Holy Mosques King Salman bin Abdulaziz, approved the formation of a permanent committee to oversee all matters related to asbestos and ensure enforcement of its ban, marking a new step in public health and regulatory oversight.

Saudi Health Minister Fahad Al-Jalajel told Asharq Al-Awsat that the Kingdom approaches health risks with a proactive strategy grounded in clear policies and long-term planning.

“Any risk we detect affecting citizens, the government works to develop the necessary tools to avert it and to continue enhancing quality of life,” Al-Jalajel said, citing previous announcements including a national drowning prevention policy and a strategic drug policy.

Saudi action on asbestos dates back years, and the decision to establish a monitoring committee follows earlier Cabinet rulings. Decisions numbered 1419 and 1422 halted the use of asbestos, barred its inclusion in official specifications, and banned its import, export, and manufacture.

The measures also mandated the replacement and safe disposal of asbestos in buildings and water networks, alongside continued studies due to its health and environmental hazards.

Scientifically, asbestos refers to a group of naturally occurring mineral fibers once widely used commercially and, in some cases, still in use. Exposure can be fatal, affecting workers and others who come into contact with the fibers.

The material gained commercial value for its exceptional tensile strength, low heat conductivity, and relative resistance to chemical damage. It has been used for insulation in buildings and in products such as roofing sheets, water supply pipes, fire blankets, plastic fillers, medical packaging, vehicle clutches, and brake linings.

There are six main forms of asbestos, with chrysotile, or white asbestos, among the most widely used today. The World Health Organization has concluded that all forms of asbestos cause cancer. It also links asbestos exposure to chronic respiratory diseases.

Because asbestos has been embedded in construction materials, those involved in building, maintaining, or demolishing affected structures may face risks even decades after installation.

WHO assessments classify all six major forms of asbestos as carcinogenic to humans. Exposure, including to chrysotile, is associated with cancers of the lung, larynx, and ovary, as well as mesothelioma, a cancer of the pleural and peritoneal linings.

Clear scientific evidence also shows it causes chronic respiratory diseases such as asbestosis and other severe lung damage.

The World Health Organization estimates that about 125 million people worldwide are currently exposed to asbestos at work. More than 107,000 people die each year from lung cancer, mesothelioma, and asbestosis linked to occupational exposure.

Globally, asbestos is responsible for more than 200,000 deaths annually, according to the WHO, and accounts for roughly one-third of occupational cancer deaths. Thousands more fatalities each year are attributed to domestic exposure.

As of 2024, 50 countries had banned asbestos. In others, uncertainty remains amid insufficient and incomplete data.

 

Gulf

SDRPY Hosts Yemen Partners Group with UN and International Participation

Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)
Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)
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SDRPY Hosts Yemen Partners Group with UN and International Participation

Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)
Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)

The Saudi Program for the Development and Reconstruction of Yemen (SDRPY) hosted in Riyadh on Wednesday a meeting of the Yemen Partners Group (YPG), co-chaired by the Yemeni government, United Kingdom, and World Bank, with the participation of the United Nations and international organizations.

Yemeni Prime Minister and Minister of Foreign Affairs and Expatriates Dr. Shaya Mohsin Zindani; UN Secretary-General’s Special Envoy for Yemen Hans Grundberg; UN Resident Coordinator and Humanitarian Coordinator in Yemen Julien Harneis and Saudi Ambassador to Yemen and SDRPY Supervisor General Mohammed bin Saeed Al Jaber, as well as a number of ambassadors, representatives of international organizations, and donor entities attended the meeting.

Zindani expressed confidence in the new government and its clearly defined priorities that it will work to implement, which will help achieve stability and economic recovery.

He stressed the government’s aim to maximize benefit from the vital projects and initiatives provided by Saudi Arabia through the SDRPY, which offers important support for basic sectors and for boosting development efforts across Yemen.

Zindani expressed his appreciation to Saudi Arabia for its continued support to Yemen, commending the level of cooperation with the SDRPY and its efforts in supporting and empowering national institutions.

For his part, Grundberg emphasized the importance of the development projects provided by the Kingdom, particularly at this stage, noting positive indicators in Yemen, especially improvements in energy-sector stability.

Governor of the Central Bank Ahmed Ghaleb reviewed the bank’s priorities, stressing its commitment to transparency, the need to combat inflation, and the importance of international coordination and support to address challenges.

Al Jaber underscored the importance of continuing joint efforts to overcome obstacles facing peace and development in Yemen under the leadership of the Yemeni government.

The meeting is an important opportunity to learn about the priorities of the government and Central Bank, strengthening coordination to ensure that development and financial support is directed efficiently and effectively, and to assist donor entities and international organizations in aligning their interventions with the government’s priorities, he added.

The meeting reviewed a package of Saudi development projects worth SAR1.9 billion provided to Yemen in January, which helped boost energy-sector stability through the fuel derivatives grant, ensuring the continued operation of hospitals and vital service facilities.

It reviewed other development projects and initiatives scheduled for delivery during the coming period.