26th September 2019
Global oil shipping was thrown into disarray after the U.S. imposed penalties on a handful of Chinese tanker firms for continuing to carry Iranian crude after sanctions waivers lapsed in May. Four shipping companies were charged with knowingly violating restrictions on handling and transacting Iranian petroleum, with additional sanctions… Read More
24th September 2019
The United States on Friday imposed another round of sanctions on Tehran, including on Iran’s central bank and a development fund, following last week’s attacks on oil facilities in Saudi Arabia that Riyadh and U.S. officials have blamed on Iran. President Donald Trump outlined the action to reporters at the… Read More
23rd September 2019
Dubai: Employees of over 100 exchange houses in the UAE will undergo training to curb financial crimes in the banking sector, following an agreement with Dubai Police and the UAE’s Foreign Exchange and Remittance Group (FERG). Major General Khalil Ebrahim Al Mansouri, assistant commander-in-chief of criminal investigation affairs, Dubai Police… Read More
20th September 2019
Lebanon’s Jammal Trust Bank has been forced to wind itself down after being hit last month by U.S. sanctions for allegedly helping to fund the Iran-backed Hezbollah movement, the bank said on Thursday. The central bank said the value of the bank’s assets, and its share of the national deposit… Read More
20th September 2019
The parliamentary foreign affairs commission on Tuesday approved a draft resolution supporting Belgium’s membership of INSTEX, the European special purpose company that is required to allow trade with Iran despite American sanctions. In 2015, an agreement was reached between Iran and the five members of the UN Security Council as… Read More
19th September 2019
Just days after declaring the United States was “locked and loaded” in response to a suspected Iranian attack on key Saudi Arabian oil facilities, U.S. President Donald Trump on Wednesday said that he directed the Treasury Department to “substantially increase” sanctions on Iran. That raises several questions: What is left… Read More
19th September 2019
Members of South Africa’s controversial Gupta family have long been implicated in a series of corrupt political connections and illegal deals that have earned them millions, often in government funds. The influence of the family, now reportedly in exile in Dubai, is so all-pervasive that the affair is widely known… Read More
17th September 2019
Standard Chartered Plc, fined billions of dollars since 2012 for regulatory violations, has discovered that it cannot explain how some of its wealthiest clients acquired their fortunes and is reviewing thousands of customer accounts at its private bank. A Dubai regulatory review two years ago, which hasn’t previously been… Read More
12th September 2019
His Highness the Amir Sheikh Tamim bin Hamad al-Thani on Wednesday issued Law No. 20 of 2019 to issue a law on combating money laundering and terrorism financing. The law is effective starting from the day following the date of its publication in the official gazette. Qatar Central Bank (QCB)… Read More
12th September 2019
Federal prosecutors in Los Angeles have been working for three years to recover assets around the world that were allegedly acquired with billions of dollars stolen from Malaysia’s 1MDB fund by people associated with former prime minister Najib Razak. But the question of whether the civil forfeiture lawsuits for overseas… Read More