Tanzanian bank FBME shut down over US terror funding charges

Tanzanian bank FBME shut down over US terror funding charges

Tanzania has shut down one of the country’s largest banking institutions, FBME, following charges of aiding the finance of terrorism by US authorities.

A statement from the central bank said it had revoked its licence.

It was accused in the US of, among other things, money laundering and facilitating the payment of thousands of dollars from a financier of the Lebanese Hezbollah Islamist militants.

In its defence, the bank said it had boosted anti-money laundering measures.

FBME was set up in Cyprus before moving its headquarters...

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