Lebanon: Armed woman breaks into BLOM Bank. A Lebanese woman forced staff at BLOM Bank in Beirut to hand over thousands of dollars of her own money on Wednesday. She was waving a handgun. The woman live-streamed the activity saying she desperately needs her money for her sister’s cancer treatment. “I am Sali Hafiz. I […]
Bank
Bank of Japan revises down GDP forecast, details green fund
The Bank of Japan on Friday revised down its growth forecast for the current fiscal year and laid out details of its first green fund, announced last month. The central bank kept its key monetary easing measures unchanged, and maintained its longstanding two-percent inflation target, which remains far off despite years of efforts. In its […]
Fire erupts in ATM of private Sialkot bank
SIALKOT: As many as four fire fighting vehicles of Rescue 1122 helped control and extinguished a great ring of fire that erupted in a private bank located in a commercial hub Paris Road Sialkot on Friday. According to the bank management, the fire erupted at an ATM machine of Bank Islami Paris Road Branch Sialkot […]
FBI eyes Deutsche Bank after money-laundering report
The FBI has reached out to a lawyer for a former Deutsche Bank employee who complained that the bank was ignoring suspicious transactions, including some involving Jared Kushner’s family real estate company. The former Deutsche Bank anti-money laundering specialist, Tammy McFadden, told The New York Times in May that she had recommended that the bank […]
Explosion in Sadiqabad, 20 injured
An explosion occurred at a private bank in Sadiqabad which injured least 20 people on Thursday. According to the police, the building was completely demolished and the nature of the explosion is still unknown. The injured have been shifted to a hospital for medical treatment, whereas a search and rescue operation has been launched by the […]
German authorities raid homes, offices in tax fraud probe
German prosecutors have searched over a dozen offices and homes across the country as part of their investigation into a massive tax fraud going back more than a decade, officials said Thursday. The scheme involved so-called cum-ex transactions in which participants would lend each other shares so they could collect reimbursement for taxes they hadn’t […]
Banking secrecy and benami law
The Finance Minister of Pakistan, while addressing a gathering of State Bank of Pakistan on April 1, 2019, asked banks to share data with Federal Board of Revenue (FBR) for effective implementation of Benami Transactions (Prohibition) Act, 2017. The Government of Pakistan Tehreek-i-Insaf (PTI) recently promulgated long-awaited Benami Transactions (Prohibition) Rules, 2019 to start legal […]