BREAKING: Bahrain fines Future Bank, three Iranian banks for money laundering


The Republic of Bahrain fines Future Bank and three Iranian banks with $2.6 million in two money-laundering cases.

The news of the sanction was announced by Saudi Arabia’s Al Arabiya.

Future Bank B.S.C. is a commercial bank that was based in Manama, Bahrain. It started as a joint venture by Ahli United Bank and two Iranian state-owned banks, Bank Melli and Bank Saderat.

Central Bank of Bahrain closed down the bank in 2016 after Bahrain cut diplomatic ties with Iran.[2] In 2017, Central Bank of the Islamic Republic of Iran licensed the bank to open a branch in Kish Island.