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Bahrain to Prosecute 13 Iranian Financial Institutions on Money Laundering Charges Hudhaifa Ebrahim
Tehran’s central bank, Revolutionary Guard, Hizbullah among those who used kingdom to cheat sanctions
In the largest such case in Bahrain’s history, the Gulf state’s public prosecutor on Wednesday announced that the Central Bank of Iran and 12 other Iranian banks, most notably Bank Melli Iran (National Bank of Iran) and Bank Saderat Iran (Export Bank of Iran) will be tried on charges of money laundering in a scheme valued at $1.3 billion.
Ali Al Buainain, the Bahraini attorney general, said that “Bank Melli Iran and Bank Saderat Iran used Future Bank to transfer $1.3 billion, using an alternative system that was not licensed by Bahraini authorities and was not subject to them, and these funds were kept, settled and laundered in order to evade international sanctions against Iranian entities and personalities.”