00000cmm a22000003a 4500 UP-99796217613727756 Buklod 20210530143443.0 aa r ||| u cr ||||||||||| 210530s2019 xx d u (iLib)UPD-00524271872 DECON rda eng Pacific finance sector brief [Electronic resource] Nauru. Metro Manila, Philippines Asian Development Bank 2019. 1 online resource text rdacontent computer rdamedia online resource rdacarrier Pacific finance sector briefs. Just over a decade ago, Nauru was a tax haven with hundreds of offshore banks registered in its finance sector. However, lenient banking regulations led to money-laundering and banking licenses were revoked. The Bank of Nauru was closed in 2006. The government recently reestablished banking services in the country, but financial limitations remain a major challenge. Nauru needs to continue efforts to strengthen its framework on anti-money laundering and combat the financing of terrorism, so that the country can reconnect to the international financial system. Finance Nauru. Industrial policy. Electronic books. Open Access Electronic Books from ADB. Click here to access https://www.adb.org/publications/pacific-finance-sector-nauru FI UPD DECON Electronic Resource