Featured Bahrain

Bahrain brings charges in vast money laundering case linked to Iranian state-owned banks

Bahrain launched legal proceedings on Thursday against a number of individuals and businesses involved in a vast money laundering scheme linked to state-owned Iranian banks. The operation allowed Iranian organizations, including some sanctioned for terror financing, to secretly move money internationally, the Kingdom’s prosecutors said. Billions of dollars were funneled… Read More

U.S., Gulf Nations Sanction Iranian Financial Network in Joint Action

Saudi Arabia, Qatar and five other Gulf nations joined the U.S. in imposing sanctions on a financing network controlled by Iran’s military and several men linked to the Tehran-backed Lebanese group Hezbollah. Top U.S. Treasury Department officials said the action is the largest ever by the Riyadh-based Terrorist Financing… Read More

From Belarus to Bahrain, the small states going big on cryptocurrency

When Belarusian President Alexander Lukashenko met entrepreneur Viktor Prokopenya in March 2017, their discussion was scheduled to last for an hour but went on for three times that long. The meeting, Prokopenya said, ended with Lukashenko asking him to propose regulations to boost the country’s tech sector. Prokopenya worked with… Read More
23rd June 2019
UN officials have voiced concerns that alleged members of Al Qaeda and Islamic State are exploiting loopholes in the intergovernmental group’s sanctions to access blocked funds, The Wall Street Journal reported Wednesday. Under UN Security Council rules, blacklisted individuals can request to take back a portion of their frozen money… Read More
6th June 2019
Global financial bodies including the International Monetary Fund (IMF) and World Bank plan to be present at a U.S.-led conference on the Palestinian economy this month that the Trump administration has cast as an overture to its peace plan. The efficacy of the June 25-26 meeting in Bahrain has been… Read More
13th March 2018
The European Council has added three states to the Annex 1 list of non-cooperative jurisdictions, dubbed the EU tax blacklist, saying they have failed to make commitments at ‘a high political level’ to address issues raised. The Bahamas, Saint Kitts and Nevis and the US Virgin Islands were added on… Read More
25th October 2017
The United States on Wednesday imposed sanctions on individuals and an entity which it said were linked to sponsoring terrorism in Iraq, Syria and Yemen. The US Treasury’s Office of Foreign Assets Control (OFAC) issued the designations targeting leaders, financiers and facilitators of the Islamic State and al-Qa’ida… Read More
19th September 2017
Qatari authorities stepped up their support of domestic banks for the third month in a row in August in an attempt to offset foreign withdrawals as the showdown between the Gulf emirate and a Saudi-led alliance show no sign of abating. The Qatari economy is bearing the brunt of the… Read More
16th August 2017
Sanctions imposed by other Arab states are continuing to push up food prices in Qatar while hurting the real estate market, but not to the point of damaging the economy severely, according to inflation figures released by the government. The annual inflation rate fell back in July, after spiking in… Read More
31st July 2017
The four Arab states of Saudi Arabia, Egypt, the United Arab Emirates (UAE) and Bahrain are reportedly set to consider fresh economic sanctions on Qatar at a meeting in Manama, Bahrain’s capital. The foreign ministers of the four countries are “expected to impose sanctions that will gradually affect the Qatari… Read More
10th July 2017
The four Arab states leading the boycott against Qatar said late on Thursday that Doha’s refusal of their demands was proof of its links to terrorist groups and that they would enact new measures against it. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain released a joint statement carried… Read More
5th July 2017
Gulf states are preparing to ramp up economic sanctions against Qatar, as well as widening its diplomatic isolation and suspending it from the Gulf Co-operation Council, senior Gulf diplomats have indicated. They were speaking before a meeting in Cairo of foreign ministers from Saudi Arabia, Bahrain, Egypt and the United… Read More
8th June 2017
Suspicions that Qatar is involved in funding terrorism could roil Kenya’s trade relations with the Middle East country, even as neighbours in the Gulf tightened sanctions. On the second day of the Gulf Crisis when Saudi Arabia, United Arab Emirates, Bahrain and Egypt cut diplomatic ties with Qatar, Nairobi chose… Read More