VOL. XXXVII
NO. 22
28-FEBRUARY-1994
Financial and Banking News
Regional Banking
Arab Financial Services Suspends Travelers Checks Business
Bahrain-based Arab Financial Services (AFS) announced on 24 February that itwill suspend its travelers check service as part of an "operationalrestructuring" designed to "strengthen the company'sprofitability." The move comes roughly two months after the US Treasury'sOffice of Foreign Asset Control (OFAC) ordered US institutions to ceasebusiness with AFS on the...
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