Bank quits tax havens

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Several sites have reported:

BNP Paribas, the biggest banking group in France, is going to shut down offshore branches in tax heaven countries, the Chief Executive Officer Baudouin Prot confirmed Monday through the Europe 1.

"We have decided to close our filiations in tax heavens, those countries which remained in the grey list" of the Organization for Economics Co-operation and Development (OECD), Prot said, adding that the group will withdraw from Panama as well.

The action is based only on the pretty weak OECD grey list, admittedly.

But this may still be a first, and welcome for that fact.

Hat tip: Action Aid