More than AML fears driving correspondent banks away from Arab economies – report

Skyscrapers in the Dubai Marina in the UAE
Not all Arab states have seen declines: correspondent banking is on the rise in the UAE

Though concerns over anti-money laundering and countering the financing of terrorism (AML/CFT) are often thought to be behind the recent decline in correspondent banking, a new report focused on the Arab region suggests the problem may be more complex.

A survey by the Arab Monetary Fund, International Monetary Fund and World Bank gathered information on which banks in the region have been affected over the period 2012–2015, and what they believe the causes to be.

Nearly 39% of respondents said

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