Risk, AML fears hitting Arab correspondent banking
AMF-IMF-World Bank survey of banks in Arab nations finds a broader de-risking to be behind pull-back of correspondent banking, though trend is uneven
Though concerns over anti-money laundering and countering the financing of terrorism (AML/CFT) are often thought to be behind the recent decline in correspondent banking, a new report focused on the Arab region suggests the problem may be more complex.
A survey by the Arab Monetary Fund, the International Monetary Fund and the World Bank gathered information on which banks in the region have been
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