Iran's banking sector faces hurdles to reconnect to global financial system post-sanctions
To:
Al-Monitor Pro Members
From:
Dr. Bijan Khajehpour
Managing Partner, Eurasian Nexus Partners, Vienna, Austria
Date:
Oct. 6, 2022
Bottom Line:
Even after a potential lifting of secondary US sanctions, Iran’s banking sector will be in need of reforms to successfully reconnect to the global financial system. Issues such as remaining sanctions and regulations related to the international financial watchdog, the Financial Action Task Force (FATF), will loom large in the assessment of international banks. However, Iran’s membership in the Shanghai Cooperation Organization (SCO) will ease some of the pressure on the country’s financial sector.