RIYADH: Iran has topped the world league table for money laundering and terror financing for the third consecutive year.
It was followed by Afghanistan, Guinea-Bissau, Tajikistan and Laos in the annual rankings compiled by the Basel Institute on Governance, an independent anti-corruption group based in Switzerland. The three lowest ranked countries were Finland, Lithuania and Estonia.
In the list of 146 countries, Saudi Arabia ranked 93rd, which gives the Kingdom’s banking system a superior rating to that of Turkey in 43rd, Pakistan in 46th, China in 51st, Russia in 64th and India in 88th, and only marginally behind Japan in 98th.
“The Kingdom has a clean record as far as money laundering is concerned,” said Syed Ahmed Ziauddin, chief of the financial institutions and public sector at Bank Aljazira. “All financial institutions, including banks, have a high compliance rating within the framework of international regulations and guidelines issued by the Saudi Arabian Monetary Authority. The banks in the Kingdom have world-class technical platforms on a par with advanced countries.”
Marwan Jafri, another local banker, said: “Saudi banks are fully committed to fighting money laundering and combating terrorism financing by adopting and maintaining appropriate policies, systems and controls. But there are ample proofs in the public domain about the involvement of Iran in money laundering and terror financing.”
This is the sixth year in which the institute has compiled its rankings. Its report says the greatest improvements in the past year have been made by Sudan, Taiwan, and Bangladesh. In South Asia, Afghanistan is the highest-risk country followed by Nepal, Sri Lanka and Pakistan.
Iran tops world league for money laundering and terror finance
Iran tops world league for money laundering and terror finance
Yemen’s STC leader Al-Zubaidi has fled to unknown location, did not board plane to Riyadh: Coalition
Yemen’s STC leader Al-Zubaidi has fled to unknown location, did not board plane to Riyadh: Coalition
RIYADH: Aidarous Al-Zubaidi, the leader of Yemen’s Southern Transitional Council, has fled to an unknown location and did not board a plane to the Saudi capital Riyadh, where talks with other southern-based factions are set to take place, the coalition to support the legitimate government of Yemen said.
Saudi Arabia offered to mediate between the factions to resolve tensions in the south of the country and both Al-Zubaidi and Yemen’s presidential council leader Rashad Al-Alimi agreed to attend.
A large delegation of STC members did board the flight to Riyadh, the Coalition to Support Legitimacy in Yemen said early on Wednesday.
Al-Zubaidi was due to arrive in the Kingdom on Tuesday but during a 3-hour flight delay, the coalition said that “unjustified field movements” were observed in Aden.
The coalition said it had been provided with information that Al-Zubaidi has moved a large number of forces toward Dhala.
Last week, the coalition carried a out a “limited” airstrike targeting two shipments of smuggled weapons and other military hardware into Mukalla in southern Yemen.
It said the two vessels entered the port without authorization from either the Yemeni government or the coalition, prompting the port’s closure.
The large quantity of “weapons and combat vehicles to support the Southern Transitional Council forces in the eastern governorates of Yemen” aimed to fuel the conflict, the coalition said.
More to follow...
