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-Cayman Islands Monetary Authority revokes Hinduja Bank's banking license

Jun 01, 2020 - Global Banking News

Global Banking News - 01 June 2020

The Cayman Islands Monetary Authority (CIMA) has said that it has revoked Hinduja Bank's banking licence.

The move is expected to lead to the Cayman subsidiary of the Geneva-based private bank becoming insolvent. The action was taken after it was found that the bank has contravened anti-money laundering rules. There were also alleged issues with the bank's management and leadership.

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