Iran Must Fix Own Banks to Win Overseas Business, IMF Says - Bloomberg

Iran Must Fix Own Banks to Win Overseas Business, IMF Says - Bloomberg:

"Iran must tackle problems in its banking system and bolster anti-money laundering and terrorism-financing laws if it wants to reconnect to the global economy, the second-ranked official at the International Monetary Fund said in an interview in Tehran.
“The best thing the government can do, and the banks can do, is to bring those standards up to international levels and try to reassure foreign partners, banks and otherwise that Iran’s banks are safe to deal with,” David Lipton, Managing Director Christine Lagarde’s deputy at the Washington-based lender, said on Tuesday.
Though most sanctions were lifted following Iran’s nuclear deal with world powers, European lenders have said doing business is risky while other U.S. trade restrictions remain in place. Shortly after Lipton gave a speech at Iran’s central bank, Foreign Minister Mohammad Javad Zarif again called on the U.S. to give adequate assurances to foreign banks wanting to do business with his country, the state-run Islamic Republic News Agency reported."



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