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BMI Pursuing Future Bank’s Case

BMI Pursuing Future Bank’s Case BMI Pursuing Future Bank’s Case

Bank Melli Iran will pursue Future Bank’s case through legal channels if Bahrain’s central bank decides to shut down the Iran-owned bank,  Abdol Nasser Hemmati, the BMI chief said on Wednesday. Bahrain’s central bank placed Future Bank under its administration last year accusing the bank of being involved in sanctions-evading operations, he said noting that reports by international auditors had discredited those claims, banker.ir reported. The website said the decision seems to be politically motivated, as Bahrain has also closed the Iran Insurance Company’s branch in that country without offering any explanations. Hemmati said he had pleaded with the Bahrain regulator to allow Future Bank to resume its operation, but has yet not received any response. The Bahraini bank said Tuesday it has decided to close down Future Bank based in the tiny Persian Gulf kingdom.

Financialtribune.com