CBB welcomes Paris Court verdict in fraud case
Manama, February 23, 2010
The Central Bank of Bahrain (CBB) has welcomed the verdict delivered by the Paris Court of First Instance (Tribunal Correctionnell) in the BD20 (purple banknote) forgery case dating back to June 1998.
The court had last week sentenced seven defendants to imprisonment for a period of between 30 months and seven years, as a result of the lawsuit filed by the CBB in France, the bank said in a statement.
Bahrain's central bank had actively pursued this case since the beginning and it took the necessary legal measures to secure a successful prosecution.
The Central Bank has reiterated that it will not hesitate to prosecute those involved in any criminal acts that undermine the integrity of the currency in Bahrain.-TradeArabia News Service
More Government & Laws Stories
- Egypt to pay $1.5bn arrears to foreign oil firms
- Charles Russell opens Qatar office
- Egypt delays decision on $4.8bn IMF loan
- UAE, Netherlands sign investments deal
- Iran sees no big 2014 oil exports recovery
- Egypt ‘returned $500m deposit to Qatar’
- Bill to scrap expat levy is rejected
- Bahrain’s eGovt backs major ICT summit
- Teargas flies in Cairo as constitution takes shape
- Bahrain vows to build on reforms