CREDIT SWISS JOINS UBS IN ENDING BUSINESS WITH IRAN & IRANIANS
UBS and Credit Swiss, respectively the largest and second largest banks in Switzerland have announced they will no longer do business with the Islamic Republic of Iran nor will they offer any banking services to customers based in Iran, according to the editorial.
Iran's high risk and concern over the atomic issue has been stated as the reasons for the decision, the article reiterated.
Elsewhere, there are unconfirmed reports and indications that other international banks might take similar steps in the near future, it noted. Furthermore, even though later denied by the Iranian government, earlier in the week the Central Bank of Iran (CBI) stated its intention to transfer its fund from Europe to Southeast Asia, stated the editorial.
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