Business And Markets
0

Bank Transactions Face Closer Scrutiny

Bank Transactions Face Closer Scrutiny Bank Transactions Face Closer Scrutiny

Central Bank of Iran has required individual customers to provide documents showing the reason for transactions above 2 billion rials ($13,340 as per Sunday exchange rates). 
This is said to be in line with renewed efforts to improve transparency and accountability of bank transactions, enforce stringent anti-money laundering measures and fight tax evasion, according to a bylaw issued by the CBI. 
The executive bylaw is drawn from an amendment to the Anti-Money Laundering Law signed by the Cabinet in January, IRNA reported. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com