How Nice, where does a possibly corrupt Banking official from Afghanistan go when he flees his country... America, home of corrupt banking officials.
This is just what we need, the Obamasiah will shoot him right up the corporate ladder in the banking system here.
look out Bernanke, your job may be on the line.
BBC
The governor of Afghanistan's central bank, Abdul Qadeer Fitrat, has resigned and fled the country, saying his life is in danger for investigating fraud.
He said the government had interfered in his efforts to pursue those responsible for corruption at the privately-owned Kabul Bank.
Mr Fitrat was speaking from the US where he has residency. He says he will not return to Afghanistan.
An Afghan government spokesman said the resignation amounted to treason.
Waheed Omar, Afghan President Hamid Karzai's spokesman, also added that Mr Fitrat was himself under investigation.
The embezzlement at Kabul Bank, Afghanistan's largest private bank, almost led to its collapse last year.
Tuesday, June 28, 2011
Afghan central bank governor Abdul Qadeer Fitrat flees
Tuesday, January 19, 2010
Germany to get first muslim bank
Germany’s first Muslim bank is opening in Mannheim, with plans to set up ten branches across the country offering banking services according to the ethical rules of the Koran.No infidels allowed, women must be in full burqas accompanied with a male family member, and separate lines for men and women.
Tuesday, June 30, 2009
China's banks an accident waiting to happen
China could be worse waters than the US.
Sometime ago I read an article that stated most of China's companies are operating on razor thin margins and few if any actually make any profit. With the recession things in China could and will be much worse but so far the government has been masking the problem with massive loans.
Sooner or later the sh*t will hit the fan for China. Telegraph
China's banks are veering out of control. The half-reformed economy of the People's Republic cannot absorb the $1,000bn (£600bn) blitz of new lending issued since December.
Money is leaking instead into Shanghai's stock casino, or being used to keep bankrupt builders on life support. It is doing very little to help lift the world economy out of slump.[...]
"Future losses on stimulus could turn out to be larger than expected, and it is unclear what share the central and/or local governments ultimately will be willing or able to bear."
Note the phrase "able to bear". Fitch's "macro-prudential risk" indicator for China threatens to jump from category 1 (safe) to category 3 (Iceland, et al). This is a surprise to me but Michael Pettis from Beijing University says China's public debt may be as high as 50pc-70pc of GDP when "correctly counted".
The regime is so hellbent on meeting its growth target of 8pc that it has given banks an implicit guarantee for what Fitch calls a "massive lending spree".
Saturday, March 28, 2009
Monday, February 23, 2009
Nigerian scams $27 million from Citibank
Anyone who receives an email from Nigeria almost instantly recognizes it to be a phishing scam designed to get your bank account info. But Citibank fell victim to a slightly altered version of the classic email scam and paid out $27 million to multiple accounts. If it wasn't for the other banks noticing irregularities then the scam would've been successful.
No wonder there's a finicial crisis right now, the top banks can't even figure out if they're being scammed. Reuters NEW YORK, Feb 20 (Reuters) - A Nigerian citizen was indicted on charges of scheming to steal about $27.2 million from a National Bank of Ethiopia account at Citibank N.A., a unit of Citigroup (C.N), U.S. officials said on Friday.
....
The accused man, Paul Gabriel Amos, was arrested in Los Angeles in January and pleaded not guilty in U.S. District Court in Manhattan on Friday to a charge of conspiracy to commit bank fraud and wire fraud.
From September through November of last year, Amos and unidentified co-conspirators sent fake signed documents to Citibank appearing to match signatures of officials at National Bank of Ethiopia (NBE), the country's central bank, U.S. prosecutors and the FBI said in a statement.[...]
U.S. prosecutors said that between Oct. 2 and Oct. 16 last year, Amos and co-conspirators caused Citibank to make a total of about 24 wire transfers amounting to almost $27.2 million to various accounts they controlled in Japan, South Korea, Hong Kong, Australia, China, Cyprus and the United States.
Tuesday, June 17, 2008
Iran: Uranium Enrichment Will Continue
Threats, incentives, nothing will persuade Iran to stop enriching uranium. Recently Gordon Brown, the prime minister of Britain, announced that Britain will freeze the assets of Iran's largest bank. So Iran moves $75 billion dollars out of Europe and moves the money to Asia (China). I thought they already froze the assests when they made the announcement. Noooo, it's as if the leaders of the West want Iran to have nukes.Part of Iran's assets in European banks have been converted to gold and shares and another part has been transferred to Asian banks," Mohsen Talaie, deputy foreign minister in charge of economic affairs, was quoted as saying.
....
Iranian officials were not immediately available to comment on the report in Shahrvand-e Emrouz, a moderate weekly, which did not specify the time period for the withdrawals which it said were ordered by President Mahmoud Ahmadinejad.
"About $75 billion of Iran's foreign assets which were under threat of being blocked were wired back to Iran based on Ahmadinejad's order," the weekly said.
Europe keeps offering Iran economic incentives to stop enriching uranium but Iran consistently turns down the offers. So, what does Europe do? Send their top diplomat and offer economic incentives. Brilliant!Reuters
TEHRAN (Reuters) - Iran said on Tuesday uranium enrichment was its "red line" and would continue, despite an enhanced offer of incentives from big powers to stop activity the West fears could yield nuclear bombs.
The EU's top diplomat, Javier Solana, presented Tehran on Saturday with an adjusted package of economic benefits designed to persuade it to curb its nuclear work, and said Iran should stop enrichment during negotiations to implement the offer.
"We have repeatedly said that enrichment is our red line and we should enjoy this technology. The work will be continued," deputy foreign minister Alireza Sheikhattar told reporters, according to the state news agency IRNA.
The incentive package agreed by the United States, Russia, China, Britain, France and Germany last month and delivered by Solana is a revised version of one rejected by Iran in 2006.
