* The European Commission is looking at ways for EU governments to directly transfer payments and funds to the Central Bank of Iran to sidestep U.S. sanctions against Iran, Reuters wrote, citing an unnamed EU official. The move follows U.S. President Donald Trump's recent decision to withdraw from the 2015 Iran nuclear pact and the sanctions imposed by the U.S. Treasury Department against Iranian central bank officials, including Governor Valiollah Seif.
* Meanwhile, a spokesman for DZ Bank AG said the German lender will completely suspend its foreign payment transactions with Iran, effective July 1, Reuters reported.
* Swiss authorities conducted searches at several locations in Switzerland last week as part of a probe into entities suspected of money laundering in relation to alleged crimes involving Angola's central bank and sovereign wealth fund FSDEA, Reuters wrote. It comes amid a legal dispute between the sovereign wealth fund and Swiss asset manager Quantum Global over alleged mismanagement of the former's funds.
* Beltone Financial Holding SAE is looking to acquire a controlling stake in pan-African lender Oragroup SA as part of the Egyptian investment bank's plans to expand its financial services on the African continent, The National reported.
MIDDLE EAST AND NORTH AFRICA
* Saudi Arabia-based National Commercial Bank said its board of directors has decided to appoint Saeed Mohammed al-Ghamdi chairman of the board and Rashid Ibrahim Sharif vice chairman.
* Moody's affirmed Gulf Bank KSCP's A3 long-term deposit ratings and revised the outlook on the ratings to positive from stable. Also affirmed were the Kuwaiti lender's Prime-2 short-term deposit ratings, A2(cr)/P-1(cr) counterparty risk assessments and "ba1" standalone baseline credit assessment.
* Abraaj Group Ltd. investors are calling for founder and CEO Arif Naqvi to further reduce his involvement in the United Arab Emirates-based private equity firm amid a dispute with investors in its $1 billion healthcare fund over the use of some of their money, insiders told Reuters.
* Separately, two investigations into Abraaj's alleged misuse of funds reportedly found potential accounting discrepancies in its other vehicles, along with its healthcare fund, Bloomberg News reported.
* The UAE's cabinet has approved measures that would allow foreign investors to own 100% of businesses in the country by 2018-end, Reuters reported, citing state news agency WAM. Under existing rules, foreigners are generally not allowed to hold more than a 49% stake in any local company, unless it is incorporated in a so-called special free zone.
* Bank Sohar SAOG appointed Ahmed Al Musallami CEO, effective May 20.
* Ahli Bank SAOG CEO Lloyd Maddock has resigned. The Omani lender named Senior General Manager Said al-Hatmi as Maddock's replacement, effective June 17.
* Al Ahli Bank of Kuwait KSCP opened its new branch at the Dubai International Financial Centre and named Tom Lind as senior executive officer of the branch, according to a press release carried by Thomson Reuters' Zawya.
* Bahrain Insurance Association board member Mohammed Jawad said insurance firms in the country are finalizing a unified comprehensive motor insurance policy, with the Central Bank of Bahrain set to issue a dedicated law governing it by mid-2018, Alayam reported. He also said that the M&A activities in the local markets will help address competition in the market.
* Capital Intelligence Ratings affirmed Credit Libanais SAL's financial strength rating of at BB+, with a stable outlook.
EAST AND WEST AFRICA
* Rwanda-based Bank of Kigali Ltd. intends to list shares on the Nairobi stock exchange in the second half in a bid to raise between $60 million to $70 million of additional capital, Reuters wrote.
* Fitch Ratings affirmed Nigeria's B+ long-term foreign-currency issuer default rating, with a negative outlook.
* Sterling Bank Plc Chairman Asue Ighodalo said the Nigerian lender is considering changing its operational structure into a holding company in a bid to improve its financial performance, Business Post Nigeria wrote.
* CalBank Ltd. Managing Director and CEO Frank Adu Jr. said the Ghanaian lender is in talks with international partners to raise $200 million to fund operations, according to Ghana Business News.
* GN Bank CEO Issah Adam said the lender is on track to meet the December 2018 deadline set by the Bank of Ghana for local banks to meet the new 400 million cedi capital requirement, Ghana Web wrote.
CENTRAL AND SOUTHERN AFRICA
* Zimbabwe's central bank has banned local banks from using cryptocurrencies, and asked financial institutions to remove all existing cryptocurrency accounts within 60 days, Financial Afrik said.
* Angola's Banco de Poupança e Crédito SA ended 2017 with a €4.3 billion balance sheet hole, the second-worst result recorded in the state bank's history, Jornal de Negócios reported, citing nonperforming assets as the main cause for the company's financial challenges.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Woori Bank to restructure; Inditrade Capital exits broker unit; CBA may cut jobs
Sheryl Obejera, Henni Abdelghani, Pádraig Belton and Mariana Aldano contributed to this report.
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