Smaller Banks Taking Lead on Iran Deals
Economy, Business And Markets

Smaller Banks Taking Lead on Iran Deals

With major UK and US banks still struggling to find reassurances from regulators to resume business with Iran nearly 10 months since “implementation day,” a handful of European banks are forging ahead and sealing transactions with the oil-rich nation. “I’ve recently found a new sport, which is hunting for small banks who want to do business with Iran,” said Andreas Schweitzer, senior managing partner at Arjan Capital Ltd., a Malta-registered investment and advisory firm that focuses on doing business with Iran, wsj.com reported. “And we won’t waste our resources looking for large banks; we will do business with medium sized banks–in Italy, Liechtenstein,” he said at the Iranian Trade Conference in London. Even after a significant batch of global economic sanctions against the country were lifted in January, many primary and secondary sanctions  linger, which means major global banks have mostly steered clear of facilitating deals with Iran.

Short URL : https://goo.gl/qHtkHS
  1. https://goo.gl/uU3fKb
  • https://goo.gl/SjTdlL
  • https://goo.gl/nnwSFE
  • https://goo.gl/NoEYTH
  • https://goo.gl/9W39qd

You can also read ...

Experts believe the import ban would lead to a further rise in smuggling and market disruption.
The government has banned the import of 1,339 commodities...
CBI, Capital Market Agree to Control  Gold Coin Bull Run
As gold coin prices are skyrocketing, the Central Bank of Iran...
$1.5b in Tax Evasion Identified From Bank Accounts
About 63 trillion rials ($1.49 billion) worth of unpaid tax...
Mohammad Javad Zarif (4th L) addressed representatives of Iran Chamber of Commerce, Industries, Mines and Agriculture on June 24. (Photo: Bahareh Taghiabadi )
Foreign Minister Mohammad Javad Zarif assured the business...
Top US Court Restricts Police on Cellphone Location Data
The US Supreme Court on Friday imposed limits on the ability...
Iran Explores Int’l Space Collaborations at UN Meeting
Officials with Iran Space Agency participated in the two-day...
Beverage Can Imports at  $21 Million
More than 2,890 tons of beverage cans worth more than $21...
Xiaomi’s Hong Kong IPO
Xiaomi, one of the world’s leading smartphone makers, is...

Add new comment

Read our comment policy before posting your viewpoints