Banking

Belfius Bank NV/SA (“Belfius Bank”) is listed on the “List of Corresponding Banks for Transferring the Fees” for payment to the 10th International Conference on Magnetic and Superconducting Materials (“MSM17”), which took place at the Sharif University of Technology, Tehran, Iran on September 18-21, 2017.  (Sharif University Website, “MSM17 [Corresponding Banks Fees];” “MSM17”). 

Several banks have announced since the U.S. JCPOA exit a cessation of transactions with Iran: DZ Bank and Allianz of Germany; Oberbank of Austria; and Banque Wormser Freres of France. (Iran Sanctions)

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"May stop Iran trades because of concerns about accessing U.S. dollars." (Benoit Faucon and Sarah McFarlane, "King Dollar Tightens Noose on Iranian Economy," The Wall Street Journal, June 25, 2018.)

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In January 2017, the Reserve Bank of India (“RBI”), based on information obtained from the Indian Embassy in Tehran, named Banque Worms SA (“Banque Worms”) as one of a number of international banks with correspondent banking relationships with Iranian banks.  (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017).

 In 2020, the U.S. state of Mississippi listed Bank Torgovoy on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Bank Torgovoy ineligible for investment and/or state contracting.

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In 2017, the U.S. state of Mississippi listed Bank Torgovoy on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Bank Torgovoy ineligible for investment and/or state contracting.

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Bank Tejarat holds 99.37% of the bank's shares; member of a banking group with Persia International Bank PLC. and Europaisch-Iranische Handelsbank AG; shares an address with Priorbank; has official representatives in Kiev, Ukraine and in Tehran, Iran.

"PKO Bank of Poland is the first Polish bank technically ready to make financial settlements with Iranian banks. The PKO offer for exporters conducting trade with Iran allows them to significantly reduce the risk of their business. The Bank has consistently implemented a strategy of supporting Polish companies that are expanding their foreign expansion."  (February 14, 2019).

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According to Bank Polski’s website “he Bank is working with correspondent banks in every major region of the world, and was also the first Polish bank ready to settle with Iran after the abolition of some of the sanctions imposed on the country. Recently, PKO Bank Polski has strengthened its potential for mutual settlements in the Gulf Region.”

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In January 2017, the Reserve Bank of India (“RBI”), based on information obtained from the Indian Embassy in Tehran, named PKO Bank Polski (“Bank Polski”) as one of a number of international banks with correspondent banking relationships with Iranian banks.  (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017).

"Bank Alpinum terminates business dealings with Iran - including those that are not affected by the current Iran sanctions, but where the client lives in Iran. This was decided by the Board of Directors in mid-March, as the bank announced on Friday." (5/24/2019)

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In January 2017, the Reserve Bank of India (“RBI”), based on information obtained from the Indian Embassy in Tehran, named Bank Alpinum AG (“Bank Alpinum”) as one of a number of international banks with correspondent banking relationships with Iranian banks.  (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017).

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Bank Alpinum has agreed to speak at the Impulse Event: Iran in Biel, Switzerland on June 29, 2017.  (S-GE Website, “IMPULSE EVENT: IRAN”). 

In January 2017, the Reserve Bank of India (“RBI”), based on information obtained from the Indian Embassy in Tehran, named Banco Popolare di Vicenza S.p.A. (“BPVi”) as one of a number of international banks with correspondent banking relationships with Iranian banks.  (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017).

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According to a report in December 2016:

“…when the end of sanctions came in January, we were ready to resume,” says Giovanni Forcati, Commercial Manager of Vicenza's Popular Bank. Today, the Vicentine Institute has re-established relations and “swapped the keys” (i.e. swift codes) with eight Iranian banks, which implies, inter alia, harmonizing security systems and anti-money laundering controls. (Internazionale, “L’amicizia commerciale tra l’Iran e l’Italia va a gonfie vele,” 12/1/2016).

In January 2017, the Reserve Bank of India, based on information obtained from the Indian Embassy in Tehran, named Banque Heritage SA as one of a number of international banks with correspondent banking relationships with Iranian banks. (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017).

"Iran has asked the Bank of England to set up special clearing accounts for its banks, but has so far been rebuffed in its effort to resolve an impasse that has left it excluded from banking in London more than a year after sanctions were lifted. Tehran has been hoping for swift reintegration into global trade after its deal in 2015 aimed at curbing Tehran's nuclear program in return for the lifting of international sanctions. Its failure to persuade Western banks to accept its business has been one of the main choke points preventing its rehabilitation. Banking sources from both Iran and the West, and Iranian political sources close to the talks, said Tehran has approached the Bank of England to seek clearing accounts directly with the UK central bank." (Reuters,  "Iran Struggles to Coax Bank of England To Open Clearing Accounts," 3/20/2017).

"Toronto-Dominion Bank (TD Bank), a financial institution headquartered in Toronto, Canada agreed to pay $516,105 to settle its potential civil liability for violations of the US sanctions on Iran and Cuba. TD Bank processed 39 transactions totaling $515,071 between Dec. 1, 2008 and March 28, 2012, to or through the United States in apparent violation of the Iranian transactions and sanctions regulations, the US Treasury Department said." (Trend News Agency, "Canadian Bank to Pay Fine Due to Iran Sanctions Violations," 1/14/2017).