UANI Applauds BCP, Swiss Bank, for Pulling Out of Iran

November 22, 2011

FOR IMMEDIATE RELEASE
November 22, 2011
Contact: Nathan Carleton, [email protected]
Phone: (212) 554-3296

     UANI Applauds BCP, Swiss Bank, for Pulling Out of Iran

New York, NY - On Tuesday, United Against Nuclear Iran (UANI) applauded the Swiss bank, Banque de Commerce et de Placements SA (BCP), for ending its business in Iran and cutting off its ties with Iranian entities. BCP had previously been conducting business in Iran in conjunction with international banks.

BCP recently contacted UANI concerning its listing on UANI's Iranian Business Registry (IBR). UANI then began discussions with BCP, in which BCP stated that it would no longer do business in Iran, and also assured UANI that its decision included the provision of correspondent banking services to all Iranian banks, including ones located outside of Iran that are either on the Treasury Specially Designated Nationals (TSDN) List and/or the Financial Crimes Enforcement Network (FECN) List.

UANI accepts BCP's pledge, and will note the bank as withdrawn from Iran on the IBR.

Said UANI President, Ambassador Mark D. Wallace:

BCP has made the right decision in pulling out of Iran. Any bank or business that continues to do business in Iran does so at the risk of working with an Iranian Central Bank that is a known and designated money launderer. Financial institutions that continue to work in Iran are wrongly supporting the Iranian regime, and run the risk of violating the laws of several jurisdictions.

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