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A number of foreign banks which used to write letters to Iran a few days ago saying it would be impossible for them to continue cooperation with Iran due to sanctions are now saying that they want to resume cooperation with Tehran in the face of US sanctions. (Shutterstock)

December 3rd, 2018 - 07:12 GMT

Will European Banks Ditch US Sanctions Altogether and Deal With Iran Directly?

A senior Iranian banker said several European banks have voiced strong willingness to cooperate with Iran irrespective of the US sanctions.

There is also a need to improve internet connectivity in Lebanon for banks to be able to provide fintech services in an effective way. (Shutterstock)

February 22nd, 2017 - 09:00 GMT

Lebanon's banks trail behind in fintech services

According to a joint plan of action agreed in November in Geneva, world powers would “establish a financial channel to facilitate humanitarian trade for Iran’s domestic needs using Iranian oil revenues held abroad”.

March 16th, 2014 - 03:55 GMT

Not so open for business after all? Western Banks giving Iran the cold shoulder