IMF Staff Country Reports

Islamic Republic of Iran: Selected Issues

February 27, 2017

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Islamic Republic of Iran: Selected Issues, (USA: International Monetary Fund, 2017) accessed December 6, 2024

Summary

This Selected Issues paper analyzes impediments to correspondent banking with the Islamic Republic of Iran. Even though international nuclear sanctions were lifted January 16, 2016, Iranian banks face protracted difficulties in reentering the international financial system through correspondent relationships with global banks. Significant challenges continue to prevent Iranian banks from fully reconnecting with global banks. These challenges relate mostly to remaining sanctions from the United States; the regulatory enforcement environment; and significant deficiencies in Iran’s Anti–Money Laundering and Combating the Financing of Terrorism framework, including Iranian companies’ lack of transparency. Domestic policy reforms can potentially facilitate reconnection to non-US global banks.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Income, Inflation, Labor, Labor markets, National accounts, Prices, Tax incentives, Taxes, Withholding tax

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), CBI bill, CR, Global, Income, Inflation, Iran, ISCR, Labor markets, Monetary policy, Private sector employment, Rate, Tax system, U.S person, WHT rate, Withholding tax

Publication Details

  • Pages:

    48

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2017/063

  • Stock No:

    1IRNEA2017002

  • ISBN:

    9781475583083

  • ISSN:

    1934-7685