De-risking causes banking losses and fails to reduce AML/CFT risks
Bankers in the Middle East appear agreed that restrictions imposed by global financial institutions on smaller regional and local banks with the aim of reducing risks associated with anti-money laundering and combating financing of terrorism (AML/CFT) are causing significant business losses to regional banks.
So-called de-risking by global financial institutions that are increasingly terminating or restricting correspondent banking relationships is also causing damage to smaller financial institutions in the region.
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