Banking Sector to Take No Hit From US JCPOA Exit

Iran’s banking sector has rebounded in the absence of sanctions lifted under the 2015 nuclear deal and will continue to rebuild its foreign correspondent relations despite the recent US withdrawal from the deal, a senior banking official said.
“At the time of signing JCPOA, our banking system was facing two main shortcomings: being out of step with the global banking standards and disconnect with the international banking network,” said Bank Sepah’s CEO Kazem Choghazardi.
He was using an acronym that stands for the official name of the accord, the Joint Comprehensive Plan of Action.