Keep Us Strong WikiLeaks logo

Currently released so far... 5408 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
QA
YM YI YE

Browse by classification

Community resources

courage is contagious

Viewing cable 07MANAMA1029, BAHRAIN'S CENTRAL BANK TAKES ACTION AGAINST FUTURE

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #07MANAMA1029.
Reference ID Created Released Classification Origin
07MANAMA1029 2007-11-14 15:03 2011-02-18 21:09 CONFIDENTIAL Embassy Manama
VZCZCXRO6097
PP RUEHBC RUEHDE RUEHDIR RUEHKUK
DE RUEHMK #1029 3181526
ZNY CCCCC ZZH
P 141526Z NOV 07
FM AMEMBASSY MANAMA
TO RUEHC/SECSTATE WASHDC PRIORITY 7404
INFO RUCNIRA/IRAN COLLECTIVE PRIORITY
RHBVAKS/COMUSNAVCENT  PRIORITY
RHMFISS/HQ USCENTCOM MACDILL AFB FL PRIORITY
RUEATRS/TREASURY WASHDC PRIORITY
C O N F I D E N T I A L MANAMA 001029 
 
SIPDIS 
 
SIPDIS 
 
STATE FOR T, ISN, EUR, EAP, NEA 
 
E.O. 12958: DECL: 11/14/2017 
TAGS: PARM PREL MNUC KNNP EFIN ECON IR BA
SUBJECT: BAHRAIN'S CENTRAL BANK TAKES ACTION AGAINST FUTURE 
BANK 
 
REF: MANAMA 1016

Classified By: Ambassador Adam Ereli, reasons 1.4(b) and (d).

1.(C) In a meeting with the Ambassador on November 13, Central Bank of Bahrain (CBB) Governor Rashid Al-Miraj said that he was taking steps to prevent Future Bank from engaging in any illicit activity. He acknowledged the seriousness of the situation and said that Bahrain wanted to be proactive on its own so that US authorities would not have to take additional action.

2.(C) Al-Miraj said that the CBB has assigned independent auditors to Future Bank. Their job will be to review all bank transactions weekly and to ensure that they only include local, retail transactions. (Note: Future Bank's deposits currently total roughly USD 266 million. End Note.) The CBB will also appoint two independent members to the board of directors, ensuring strategic oversight and maintaining tight control over Future Bank's operations. "We are, in essence, taking control of the bank," he said.

3.(C) In coordination with the CBB, Future Bank's minority shareholder, Ahli United Bank (AUB), will place its shares in blind trust. Al-Miraj added that AUB would prefer to sell its stake in Future Bank and that he would like to make the Iranians minority shareholders, but that no investors wanted to participate in a tainted enterprise.

4.(C) Al-Miraj said he was confident that the measures taken by the CBB were sufficient to meet US concerns. He asked that if we have information about other Future Bank activity or holdings that the CBB has not sufficiently regulated, we share it with the CBB so he can take appropriate action. ********************************************* ******** Visit Embassy Manama's Classified Website: XXXXXXXXXXXX********************************************* ******** ERELI