US court dismisses FBME motion against US ban

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US court dismisses FBME motion against US ban
 © BusinessMail 2017
By Stelios Orphanides

A US court rejected a motion by Tanzanian FBME Bank against a 2015 measure taken by the Financial Crime Enforcement Network (FinCEN) barring the lender from engaging in transactions in the US financial system..

A lifting of the ban, which bars US banks from opening and maintaining corresponding accounts with FBME, effectively preventing the lender from carrying out transactions in US dollars, would be justified if FBME had made a “strong showing” to likely succeed on the merits, or alternatively if FinCEN’s measures against it could cause irreparable damage to...


US court dismisses FBME motion against US ban


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