http://www.foxnews.com/story/0,2933,337150,00.html
Treasury Imposes Financial Sanction on Bahrain Bank for Alleged Link to Iran’s Nuke Program
Wednesday, March 12, 2008
WASHINGTON — The United States is imposing financial sanctions on a Bahrain bank the United States alleges is controlled by Iran’s Bank Melli, which has been accused of providing support to Iran’s nuclear program.
The Treasury Department’s action Wednesday targets Future Bank B.S.C. Any bank accounts or other financial assets found in the U.S. belonging to the bank must be frozen. Americans also are prohibited from doing business with the bank.
It marked the government’s latest effort to tighten the financial noose on Iran, which the United States accuses of bankrolling terrorism and seeking a nuclear bomb. The administration also has accused Iran of taking steps to evade a range of financial sanctions.
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http://www.foxnews.com/story/0,2933,337068,00.html
Pakistan Police Probe Possible Al Qaeda Ties in Twin Bombings That Killed Dozens
Wednesday, March 12, 2008
LAHORE, Pakistan — Investigators probed whether Al Qaeda was behind twin homicide attacks that killed 27 people as a new government prepared to take office, officials said Wednesday.
The bombings were the first major terrorism attacks since the parties of slain opposition leader Benazir Bhutto and another former premier, Nawaz Sharif, announced Sunday they would form a coalition government and try to cut the powers of U.S.-backed President Pervez Musharraf.
Tuesday’s blasts happened about 15 minutes apart in different districts of Lahore, Sharif’s stronghold. The first tore the facade from the seven-story Federal Investigation Agency building as staff were beginning their work day.
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Thanks for the heads up, drymans wife.
Note: The following text is a quote:
http://www.treas.gov/press/releases/hp869.htm
March 12, 2008
HP-869
Treasury Designates Iran-Controlled Bank for Proliferation
Future Bank Controlled by Iran’s Bank Melli
Washington - The U.S. Department of the Treasury today designated Future Bank B.S.C. for being controlled by Iran’s Bank Melli, which was previously designated by the Treasury Department for facilitating Iran’s proliferation activities.
“Bank Melli goes to extraordinary lengths to assist Iran’s pursuit of a nuclear capability and ballistic missiles, while also helping other designated entities to dodge sanctions,” said Stuart Levey, Under Secretary for Terrorism and Financial Intelligence (TFI). “Banks and other entities owned or controlled by Bank Melli pose a serious threat to the integrity of the international financial system.”
Future Bank is being designated pursuant to Executive Order 13382, an authority aimed at freezing the assets of proliferators of weapons of mass destruction (WMD) and their supporters. Bank Melli was designated by the Treasury Department under E.O. 13382 on October 25, 2007.
Future Bank was established in 2004 as a joint venture between two Iranian banks, Bank Melli and Bank Saderat, and a private bank based in Bahrain. Bank Melli and Bank Saderat each hold 33.3 percent of Future Bank’s outstanding shares. At the time of designation, Bank Melli and Future Bank publicly identify the same individual as chairman of both institutions. Other information available to the U.S. Government also demonstrates that Future Bank is controlled by Bank Melli.
The Government of Bahrain has taken responsible steps to try to prevent Future Bank from abusing the country’s financial system.
“Bahraini authorities have been closely monitoring Future Bank and took some steps after Treasury’s designations of Banks Melli and Saderat to attempt to prevent abuse by this institution,” Levey continued.
This designation is consistent with United Nations Security Council Resolution (UNSCR) 1803 of March 3, 2008, which calls upon Member States to “exercise vigilance” with regard to activities between financial institutions in their countries and all banks domiciled in Iran, in particular, Iran’s Bank Melli and Bank Saderat. UNSCR 1803 specifically calls on States to take such action in order to avoid these activities contributing to either proliferation sensitive nuclear activities or the development of nuclear weapons systems, as referred to in UNSCR 1737.
Treasury’s Office of Foreign Assets Control (OFAC) designated Bank Melli pursuant to E.O. 13382 for providing, or attempting to provide, financial support for entities involved in Iran’s nuclear and missile programs. These include: the Shahid Hemmat Industrial Group, the Defense Industries Organization (DIO), Bank Sepah, and the Islamic Revolutionary Guard Corps (IRGC). These entities have also been designated under E.O. 13382 and have been listed in UNSCRs 1737 and 1747. OFAC also designated four financial institutions that are owned or controlled by Bank Melli, including Melli Bank plc, Arian Bank, Bank Melli Iran ZAO, and Bank Kargoshaee.
On that same day, OFAC designated Bank Saderat pursuant to E.O. 13224 for providing support to the terrorist organizations Hizballah and Hamas.
Since President George W. Bush issued E.O. 13382 in June 2005 and identified eight entities in the Annex to the Order, a total of 51 entities and 12 individuals have been designated as proliferators of WMD. Specifically, the Treasury Department has designated:
36 entities and 11 individuals tied to Iranian proliferation activity;
Nine entities and one individual tied to North Korean proliferation activity; and
Three entities tied to Syrian proliferation activity.
Additionally, the State Department has designated three Iranian organizations as entities of proliferation concern, including Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), the DIO, and the IRGC.
The designation announced today is part of the ongoing interagency effort by the United States Government to combat WMD trafficking by exposing and blocking the property of entities and individuals that engage in proliferation activities and their support networks.
Future Bank Identifying Information
FUTURE BANK B.S.C.
Addresses:
P.O. Box 785, City Centre Building, Government Avenue, Manama, Bahrain
Block 304, City Centre Building, Building 199, Government Avenue, Road 383, Manama, Bahrain
All branches worldwide
For more information on the designation of Bank Melli, please visit: http://www.treas.gov/press/releases/hp644.htm.