UK may allow Iranian Banks to Resume Business

By John Lee.

British regulators are said to be considering whether to allow two Iranian banks to resume operations in London.

Sources told Reuters that Melli Bank and Persia International Bank will only be able to operate in the United Kingdom once they have met Bank of England criteria for financial firms, including such matters as capital requirements, risk management and governance.

Both banks have been in talks with the Financial Conduct Authority and the Treasury about restarting operations.

(Source: Reuters)

(Picture: Melli Bank, London)

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