Sweden detains Iranian on suspicion of murder in Iran in 1988

Sweden detains Iranian on suspicion of murder in Iran in 1988
Police members are seen at Malmo central station after shooting a man for "threatening behaviour" according to law enforcement, Malmo, Sweden June 10, 2019. (Reuters)
Updated 13 November 2019

Sweden detains Iranian on suspicion of murder in Iran in 1988

Sweden detains Iranian on suspicion of murder in Iran in 1988
  • Human rights groups say the Islamic Republic executed thousands of political detainees in the late 1980s

STOCKHOLM: A 58-year-old Iranian citizen has been arrested in Sweden on suspicion of murder in Iran in 1988, prosecutors said on Wednesday, and national news agency TT said the case involved killings of political prisoners.
Human rights groups say the Islamic Republic executed thousands of political detainees in the late 1980s. Many of them belonged to opposition groups. Iran denies having political prisoners or having executed any such prisoner.
The prosecutor’s detention request said the man was arrested on Nov. 9 after what TT said was his arrival to visit relatives. He was remanded in custody Wednesday pending a decision by Dec. 11 on whether he should be formally charged and put on trial.
TT said the man was suspected of playing a leading role in a prison in Karaj, a city west of the Iranian capital Tehran, where many detainees were executed in 1988.
The man’s lawyer was not immediately available for comment. The lawyer told TT the man denies the allegations.
Iranian officials have denied the late 1980s killings took place. However, in 2016 a 28-year-old audio tape surfaced in which Ayatollah Hossein Ali Montazeri, the deputy Supreme Leader of Iran at the time, said the executions were the “biggest crimes committed by the Islamic Republic.”
Amnesty International said in a report last year that the lowest estimates put the number of executed at around 5,000.


SAMA calls for more M&A deals in insurance sector

The Saudi Central Bank (SAMA) has issued a statement encouraging companies in the insurance sector to consider merger and acquisition (M&A) deals. (Shutterstock/File Photo)
The Saudi Central Bank (SAMA) has issued a statement encouraging companies in the insurance sector to consider merger and acquisition (M&A) deals. (Shutterstock/File Photo)
Updated 7 min 58 sec ago

SAMA calls for more M&A deals in insurance sector

The Saudi Central Bank (SAMA) has issued a statement encouraging companies in the insurance sector to consider merger and acquisition (M&A) deals. (Shutterstock/File Photo)
  • Through mergers, SAMA said it aims to improve customer service and efficiency, and reduce costs
  • M&As can make sector more competitive and strengthen its financial position, it added

RIYADH: The Saudi Central Bank (SAMA) has issued a statement encouraging companies in the insurance sector to consider merger and acquisition (M&A) deals.

SAMA stressed the sector’s importance to the Saudi economy, and the part it plays in the government’s Financial Sector Development Program.

SAMA cited the merger of Walaa Cooperative Insurance and Metlife AIG ANB Cooperative Insurance, and of Gulf Union National Cooperative Insurance and Al-Ahlia Insurance, as successful examples of such deals and how they helped boost the financial solvency of the companies involved by improving the insurers’ capital.

Research shows that M&As can make the sector more competitive and strengthen its financial position.

Through the M&As, SAMA said it aims to improve customer service and efficiency, and reduce costs.

Last year proved to be “eventful” for M&As in the Middle East and North Africa, in particular the Kingdom, said Bader Alamoudi, senior country officer for JP Morgan Saudi Arabia.

He told Argaam in December that M&A activity was driven by companies looking to streamline costs and boost efficiency and optimization, particularly during periods of prolonged uncertainty.

“As in previous years, the financial sector has been one of the most active in terms of M&A activity in the region during 2020,” he said.

“The consolidation theme has created a ripple effect on other sectors, including energy, real estate etc., where we have started to witness heightened activity. I believe such activity will continue next year as well.”

Also notable were the stimulus packages provided by SAMA, which proved to be an immense source of cash flow that helped ease the payment burden on firms.

Alamoudi told Argaam that he expected the improvement in oil prices to rekindle retail confidence and fuel investment banking activities. “2021 is going to be a very interesting year with lots happening across all lines of business,” he said.