The French subsidiaries of the Moroccan bank Chaabi Bank are at the heart of an investigation by Tracfin, the French Ministry of Economy and Finance’s agency in charge of the fight against tax fraud, money laundering and terrorist financing.
The investigations concern in particular accounts belonging to people close to the Muslim Brotherhood.

However, Chaabi Bank told us that it “exercises close vigilance with regard to compliance with regulations and has always implemented appropriate ethics and professional conduct procedures for this purpose” and that “to date, Chaabi Bank has not been the subject of any summons, hearing or requisition in connection with offenses of tax fraud, money laundering and terrorist financing ”.