Tuesday 26 May 2015
 
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Anti-money laundering regulation challenges in focus

The recent changes and future challenges of international anti-money laundering regulation was discussed at the seventh Compliance and Anti-Money Laundering Seminar in Riyadh, Saudi Arabia recently. It was organised by leading sou

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For the 'unbanked', mobile money still has some way to go

Globally, an estimated 2.5 billion people don't have a bank account, but many own a cellphone, fuelling a race to turn these phones into bank books for the 'unbanked' to store cash, manage their accounts, make purchases and send and

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Sedco Capital plans to start feeder fund

Jeddah-based Islamic investment firm Sedco Capital plans to launch a Luxembourg feeder fund for its Gulf money market fund and is exploring ways to offer a Saudi-specific product to international investors, its lead fund manager said.

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Ethiopia launches mobile money schemes

Ethiopian banks and microfinance firms are launching mobile money services, helping reach swathes of the population that now have little access to branches or services, the mobile technology providers and banks said. The launch of

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Western Union launches self-service kiosks in UAE

The Western Union Company, a leading money transfer firm, has launched its automated self-service kiosks in the UAE, that will allow customers to pay bills and send money via easy-to-use touch screen terminals on a 24x7 basis. The

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15 convicted in $922m money-laundering racket in Bahrain

Fifteen men have been convicted of being part of a money-laundering racket that transferred up to BD350 million ($922.8 million) abroad. The group, including 11 managers and staff working for UAE Exchange, illegally sent the money

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Goldman Sachs plans debut sukuk issue for $500m

Goldman Sachs is reviving plans to raise at least $500 million with its first issue of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money. The US bank will mee

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US pushing banks to rid casinos of dirty money

Large global banks are facing increased pressure from US regulators to clamp down on casino money-laundering as the government pushes the industry to police not only its own transactions but customers' as well. Bankers, casino

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Verdict due in $923m laundering trial in Bahrain

A verdict is due in the trial of 16 men accused of being part of a money laundering racket that transferred up to BD350 million ($923.7 million).   They include 11 managers and employees working for an exchange c

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Final arguments made in money-laundering case

Lawyers have submitted final arguments in the trial of 16 men accused of being part of a money-laundering racket that transferred up to BD350 million ($923.6 million).   The ring included 11 managers and employee

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