Jul 10 2012
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Dealing with non-suspect Iranians is allowed: Central Bank
UAE's banks require approval to permit an Iranian national to open an an account
In a circular reported by the Arabic language daily Alkhaleej, the Central Bank stressed that the UAE's 23 national banks and 28 foreign units must first obtain its approval before allowing any Iranian individual or establishment to open an account or receiving funds from their country.
It told banks to provide the Central Bank with information about the accounts and financial activities of all those Iranian persons and establishments.
The Central Bank also said it would take "the necessary measures" to coordinate with banks in the UAE in case of change in the status of embargoed Iranians.
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