According to the Iranian Parliament Research Centre, problems between Iranian and foreign banks is non-sanction related. The research centre writes that Iranian banks are lagging behind their Basel III requirements, specifically regulation, supervision, risk management, and the implementation of basic AML/CFT requirements. The research centre also pointed out that Iran lacks strong supervisory institutions in the country.

Iranian banks lagging behind Basel III requirements – regulation, supervision, risk management, s well as implementation of basic AML/CFT requirements

 

Analysis: These deficiencies are exactly what make Iran risky for doing business, but also make it easier for sanctions evasion and terrorist financing, specifically to  Hizballah, as the IRGC-QF has done.

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