Transparency in Iran's Banking Moves a Step Forward

Parliament has obliged banks to close accounts of customers whose identities are not clearly stated in the bank documents, a move seen as another step toward conforming to anti-money laundering norms and fighting tax evasion.

Financial Tribune- As per an amendment to the 2020-21 budget bill, all banks and credit institutions are obliged to block accounts that lack a valid electronic banking ID number (known by its Persian acronym Shahab) by June 21.
Banks are banned from offering services or paying interest on deposits owned by anonymous account holders, IRNA reported.

Publish Date: Mar 9, 2020