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India State bank KfW in the sights of investigators because of Angola loan

12:30  05 june  2020
12:30  05 june  2020 Source:   de.reuters.com

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  Tennessee couple are arrested for child abuse after locking their son, 15, in basement for four years, keeping two kids in cages and burying their abused daughter in a barn Michael Anthony Gray Sr., 63, and his wife, Shirley Ann Gray, 60, were arrested in Roane County Monday on several charges of aggravated child abuse, including aggravated kidnapping.Michael Anthony Gray Sr., 63, and his wife, Shirley Ann Gray, 60, were arrested Monday on several charges of aggravated child abuse, including aggravated kidnapping, aggravated child neglect and abuse of a corpse.

The KfW , formerly KfW Bankengruppe ( banking group), is a German state -owned development bank , based in Frankfurt. Its name originally comes from Kreditanstalt für Wiederaufbau ("Credit Institute for Reconstruction"). It was formed in 1948 after World War II as part of the Marshall Plan.

This is a list of Angolan banks . The Banco Nacional de Angola (BNA), the Central Bank of Angola , is the supervising institution of all financial institutions in Angola , and has licensed 26 banks to offer banking to the Angolan market, which are listed in the table below.

The logo of KfW Bank is pictured at the bank's headquarters in Frankfurt © Reuters / RALPH ORLOWSKI The logo of KfW Bank is pictured at the bank's headquarters in Frankfurt

Frankfurt (Reuters) - The state development bank KfW is due to a loan to a company in Angola targeted by German investigators.

The police and public prosecutor's office had searched the business premises of the KfW subsidiary Ipex-Bank, the institute said on Friday, confirming reports from NDR, WDR and "Süddeutsche Zeitung". The development bank cooperates with the authorities, but does not want to comment on the details of the ongoing investigation. According to the media, KfW is being investigated, among other things, on suspicion of infidelity.

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The latest news on Angola banking from The Banker , providing financial analysis and commentary Angola knows it must diversify away from oil and is lucky to have alternative possibilities waiting in the wings. A recent Eurobond issue, a prospective IMF loan and the restructuring of state oil company

The case concerns a loan from Ipex Bank to finance the export of brewery and beverage plants to Angola in 2005. The institute lent EUR 50 million to the state-owned Angolan bank Banco de Poupanca e Credito, which in turn granted a loan to the Sodiba brewery . According to media reports, Angola's president of the brewery has promised tax benefits that will ultimately benefit his daughter, Isabel dos Santos. KfW had announced a few months ago that it had known nothing about the allegations against the presidential family and especially daughter Isabel dos Santos, and that it had relied on the Angolan partner bank's compliance check.

Chancellor Angela Merkel pledged to help Angola solve corruption in February. The fight against fraudulent activities is important for future investments in the South West African country.

Maas aims to act as mediator in the Middle East conflict .
On July 1, Germany will take over the EU Council Presidency and the UN Security Council. Foreign Minister Heiko Maas sees a good opportunity to play a stronger role in resolving the Middle East conflict. © Getty Images / AFP / A. Shoura Foreign Minister Heiko Maas visits Jordanian colleague Ayman Safadi in Amman After his visit to Israel, German Foreign Minister Heiko Maas traveled on to Jordan, where he spoke to his colleague Aiman ​​Safadi in Amman.

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