bank

New York Attorney General Letitia James Indicted on Bank Fraud Charges WASHINGTON — New York Attorney General Letitia James, one of former President Donald Trump's most visible legal foes, was indicted by a federal grand jury in Alexandria, Virginia, on criminal charges of bank fraud and making a false statement to a lending institution, the U.S. Justice Department said on Monday. Summary of the charges The indictment, returned by a grand jury and announced by Lindsey Halligan, the U.S. attorney for the Eastern District…

Banking on Recovery: How Salaam Somali Bank is Center Stage in Somalia’s Economic Reinvention In a country where the pulse of daily life is often set by drought cycles, clan politics and the steady flow of money from abroad, a bank has quietly become a barometer of Somalia’s recovery. Salaam Somali Bank (SSB), reconstituted in 2009 after decades of state collapse, is positioning itself as more than a commercial lender: it is a public utility, a bridge to the diaspora, and a partner in climate resilience. From…

Zimbabwe’s Currency Conundrum: A Tale of Change and Skepticism In a bold yet controversial move, the Reserve Bank of Zimbabwe (RBZ) has announced plans to unveil newly designed ZWG notes, aiming to phase out the previous versions deemed “defiled” by the public. As Zimbabwe grapples with tumultuous economic challenges, the currency change raises questions about the nation’s financial future, consumer trust, and the potential for recovery. Facing Devaluation and Distrust The journey of the ZWG notes has not been smooth.…

The Palestinian health ministry has reported a grievous loss of life in the Tulkarm refugee camp situated in the West Bank, where at least 18 individuals were tragically killed due to an Israeli airstrike. This attack was purportedly aimed at eliminating a Hamas commander, whose presence was significant in the region. A representative from the Palestinian security services described this air raid as the most catastrophic event in the West Bank since the year 2000, highlighting the escalation of violence in recent times.…

D'you hear the news? Djibouti City (AX) — The World Bank is coughing up another $90 million to beef up the Djibouti Regional Economic Corridor, a massive infrastructure project intended to improve regional connectivity and trade throughout the Horn of Africa.This fresh capital injection totals the project's financing to a hefty $160 million, building on an initial $70 million greenlighted back in December 2021.The coin will go toward revamping and maintaining three segments of the Djibouti-Addis Southern Corridor, a vital…

The Central Bank of Libya has officially declared a halt to its operations following the alarming kidnapping of its IT chief by unidentified armed assailants. This disturbing event unfolds amid escalating tensions among various armed factions throughout the nation. Prior to this incident, gunmen had surrounded the bank's headquarters located in Tripoli, demanding the resignation of Governor Seddik al-Kabir. This bold move has sparked international outrage, notably from Richard Norland, the U.S. Ambassador to Libya. He…

Frozen Bank Account Forces Ethiopian Airlines to Halt Eritrean Flights ADDIS ABABA - Ethiopian Airlines has officially announced the suspension of its flights to Eritrea due to the freezing of its bank account. This announcement came just hours prior to Eritrea's declaration of a curfew for foreign aircraft, which they described as a response to alleged 'harassment and lost luggage' incidents. Initially, Ethiopian Airlines attributed the flight suspension to “challenging operating conditions” in Eritrea, which they…

Salaam Somali Bank Provides Micro Credit to Small Businesses in Mogadishu MOGADISHU, Somalia - The Salaam Somali Bank, which is a leading private bank in Somalia, continues to contribute to the country's economic growth by providing free microfinance funds to develop small businesses. On Thursday August 19, 2021, the Bank's branch in the Bakaro market provided microfinance funds called “Qardu…

World Bank approves USD 100 million for health services in Somalia MOGADISHU, Somalia -- The World Bank announced Thursday that it has approved a total of US $ 100 million to help improve health services in Somalia. The project, the World Bank's 30-year investment in Somalia's health sector, which aims to improve health services is funded by a $ 75 million grant from International Development…

Salaam Somali Bank offers free microfinance to small businesses MOGADISHU, Somalia - The Salaam Somali Bank (SSB) provided free microfinance to small businesses in the country's capital as part of the annual Grand Pleasure program designed to boost culture and rival economy. On Monday July 5, the Bank's branch at Km-5 in Mogadishu offered free microfinance to resident traders, including women,…