Prepaid cards, bearer shares prohibited by Central Bank. In effort to combat money laundering

The Central Bank (BDL) has issued a ruling prohibiting banks from issuing or marketing prepaid cards. The decision also applies to other institutions that issue credit and loyalty cards.

The move is part of BDL's efforts to combat money laundering. The ruling pertains to anonymous cards, which could be easily used for money laundering purposes, the source said.

BDL gave the concerned parties till Sept. 30, 2016 as the deadline to take the necessary measures to settle the problem of...

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Prepaid cards ended by the Central Bank. Part of efforts to combat money laundering

The Central Bank (BDL) has issued a ruling prohibiting banks from issuing or marketing prepaid cards. The decision, released through intermediate circular 415, also applies to other institutions that issue credit and loyalty cards.

The move is part of BDL's efforts to combat money laundering, said a banking source. The ruling pertains to anonymous cards, which could be easily used for money laundering purposes, the source said.

BDL gave the concerned parties till Sept. 30, 2016 as...

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e-Payment security by Bank Audi. Two services developed with MasterCard and Visa

Bank Audi launched services that provide e-commerce and mobile commerce security tools, in partnership with MasterCard and Visa.

Randa Bdeir, Group Head of e-Payment Solutions and Card Services at the bank, said that the bank developed two new services, 3D Secure and Tokenization, to protect cardholders and merchants.

She said: "The 3D Secure service is designed to increase the security level of transactions when shopping online, while protecting both the cardholder and the merchan...

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