Latest news with #BD39
Daily Tribune
23-05-2025
- Daily Tribune
Father liable for BD39,000 after teen son's crash leaves cyclist disabled
A father has been ordered to repay nearly BD39,000 to an insurance company after his teenage son ran a red light, crashed into a cyclist, and left him 75 per cent disabled. The boy, who had held a driving licence for less than a year, had been driving his father's car when the crash took place. He drove through a red traffic signal, struck an Asian man riding a bicycle, and continued forward. The vehicle swerved left, mounted the central reservation, and came to a stop. The cyclist fell beside the car and sustained serious injuries. The Lower Criminal Court sentenced the driver to two months in prison and fined him BD1,000. His driving licence was suspended for three months.
Gulf Insider
03-05-2025
- Gulf Insider
Bahrain: Gold, Girls and Getaway Cash: BD175,000 Laundering Ring Busted
From an ordinary-looking flat, a woman masterminded a money laundering operation that channelled over BD175,000—proceeds from prostitution and human trafficking—through currency exchanges, remittances, and bulk gold purchases. She and three accomplices were each sentenced to five years in prison and fined BD100,000. Three of the four will also be deported. Investigators said the ringleader ran the illicit business with cold efficiency, exploiting women while carefully moving funds out of Bahrain. The money trail—masked through jewellery purchases and foreign transfers—was traced back to illegal sex work. The second defendant transferred BD25,815 to an Asian country and exchanged nearly BD39,000 in foreign currencies. A third handled BD44,000 in similar operations. All financial paths pointed back to the same woman. A First Lieutenant from the National Financial Intelligence Centre led the investigation. He quietly pieced together the transactions, analysed account patterns and connected the dots between the suspects' movements and their money. One defendant admitted she was tasked with overseeing the exploited women, handling client calls, collecting payments, keeping records, and managing currency exchanges. Another said he acted as a driver, picking up envelopes from hotel front desks and making deliveries to exchange shops. Prosecutors revealed that BD175,557.882 was proven to be the proceeds of human trafficking and prostitution, funnelled through different channels in an attempt to appear legitimate. The court concluded the group worked knowingly and deliberately to disguise the source of the funds, converting cash into gold bars, jewellery, and foreign currencies to cover their tracks.
Daily Tribune
03-05-2025
- Daily Tribune
Gold, girls and getaway cash: BD175,000 laundering ring busted
From an ordinary-looking flat, a woman masterminded a money laundering operation that channelled over BD175,000—proceeds from prostitution and human trafficking—through currency exchanges, remittances, and bulk gold purchases. She and three accomplices were each sentenced to five years in prison and fined BD100,000. Three of the four will also be deported. Investigators said the ringleader ran the illicit business with cold efficiency, exploiting women while carefully moving funds out of Bahrain. The money trail—masked through jewellery purchases and foreign transfers—was traced back to illegal sex work. The second defendant transferred BD25,815 to an Asian country and exchanged nearly BD39,000 in foreign currencies. A third handled BD44,000 in similar operations. All financial paths pointed back to the same woman. A First Lieutenant from the National Financial Intelligence Centre led the investigation. He quietly pieced together the transactions, analysed account patterns and connected the dots between the suspects' movements and their money. One defendant admitted she was tasked with overseeing the exploited women, handling client calls, collecting payments, keeping records, and managing currency exchanges. Another said he acted as a driver, picking up envelopes from hotel front desks and making deliveries to exchange shops. Prosecutors revealed that BD175,557.882 was proven to be the proceeds of human trafficking and prostitution, funnelled through different channels in an attempt to appear legitimate. The court concluded the group worked knowingly and deliberately to disguise the source of the funds, converting cash into gold bars, jewellery, and foreign currencies to cover their tracks.
Daily Tribune
07-03-2025
- Business
- Daily Tribune
Shura Council to discuss Bahrain-Hungary investment deal
TDT | Manama A BD39 million trade relationship between Bahrain and Hungary could grow further as the Shura Council prepares to discuss a draft law on Sunday to ratify a bilateral investment agreement. The deal, attached to Decree No. (84) of 2024, sets out legal safeguards for investors, offering assurances on fair treatment, asset protection, and dispute resolution. The Foreign Affairs, Defence, and National Security Committee has examined the proposal and prepared a report outlining its findings. Legal setting The agreement, signed in Manama on 4 September 2024, is designed to ensure a predictable legal setting for businesses operating between the two countries. The Ministry of Finance and National Economy, the Ministry of Foreign Affairs, and the Legislation and Legal Opinion Commission have backed the agreement, viewing it as a step towards strengthening commercial links. Trade between the two countries stood at BD39 million in 2023, with Hungarian investment in Bahrain amounting to BD106,000, according to figures from the Information & eGovernment Authority. Cooperation The Ministry of Finance and National Economy noted that Hungary had already entered into similar agreements with the UAE, Kuwait, and Oman, and that Bahrain's inclusion could lead to further cooperation. The agreement consists of 22 articles and an annex covering financial transactions, legal protections, and business conditions. It commits each government to treating investors from the other fairly while retaining the right to regulate economic policies in the public interest. Compensation It also sets out terms for compensation in cases of asset seizure, outlines protections in the event of conflict or unrest, and guarantees that money can be moved freely in a widely accepted currency. Bahrain has entered into similar arrangements with several of its key trading partners, including China, Japan, the UK, the US, France, Russia, Singapore, Germany, Turkey, and the UAE. Officials say agreements of this kind provide legal certainty and help businesses make longterm decisions with greater confidence. Sources of income The committee has noted that the deal aligns with Bahrain's Vision 2030 and the wider push to attract outside investment and diversify sources of income. The committee has determined that the agreement does not clash with Bahrain's legal framework and should be enacted. It has recommended approval in principle of the draft law and endorsed its provisions in full.
Gulf Weekly
06-03-2025
- General
- Gulf Weekly
Good times at British Club
Join the British Club for a stellar afternoon as it hosts its Message in a Bottle Brunch tomorrow. It costs BD35 for members and BD39 for non-members. The food-only package costs BD14 for members and BD17 for non-members. Children aged seven to 17 dine for BD8, while those under six can enjoy for free. Meanwhile, residents aged 18 and above can get a Ramadan pass, valid for the entire Holy Month. It costs BD60 per person for the whole month and BD30 per person after March 16. Passes cannot be shared. For more information, contact 17728245 or reception@
