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 affected over the period 2012–15 and what they believe the causes to be.
Nearly 39% of respondents
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