Bank of Baroda denies allegations over Dawood’s funds

Bank of Baroda’s Nassau branch has denied allegations of any association with underworld don Dawood Ibrahim’s money. CNN-IBN and FirstPost investigation claimed on Friday that Bank of Baroda’s Nassau branch in Bahamas involved in cash transaction of Dawood Ibrahim’s funds.

“In response to some of the news items appearing in TV channel regarding the purported transfer of funds through Bank of Baroda, Nassau Branch, Bahamas, it is clarified that Bank of Baroda, Nassau has been maintaining among others, the account of Dubai Exchange for last several years. It is a KYC Compliant account where transactions takes place in normal course of business to established banking channels,” the bank issued a statement.

“All AML guidelines are followed. Hence we deny any involvement of Bank of Baroda in alleged transfer of funds as reported in the Media. We further clarify that Bank of Baroda, Nassau Operations are conducted strictly within the regulatory framework of host/home country and are subject to usual systemic controls,” it added.

Dawood Ibrahim who is currently living in Pakistan’s Karachi, is India’s most wanted terrorist and main culprit in the 1993 Bombay blasts. He is also termed as global terrorist by USA.

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