Islamic Republic of Iran: Selected Issues

IMF Staff Country Reports, February 27, 2017

Source details

Canonical URL

Islamic Republic of Iran: Selected Issues

Other formats

• Markdown version
• Structured JSON version
• Bundle manifest

Bibliographic details

• Published: February 27, 2017
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475583083.002

Summary and purpose

• 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.
• Domestic policy reforms can potentially facilitate reconnection to non-US global banks.

Key findings: barriers to reconnection with global banks

• Significant challenges continue to prevent Iranian banks from fully reconnecting with global banks.
• The 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.

Subjects and keywords covered

• Subjects: 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

Content in this bundle

• Country Report
  • Country Report (Markdown version)
  • Country Report (PDF)