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FinancialNews


  • 07-11-18

    UAE economy to see no effect from U.S. sanctions on Iran

    (MENAFN) UAE Central Bank Governor Mubarak Rashed Al Mansouri affirmed that the economic field in the GCC country will not be slapped with any effects from the U.S. sanctions against Iran.

    In a report, Gulf News cited the central bank governor as saying: "we don't expect (any) material impact due to Iran sanctions."

    Gulf News reported the statement to have been made by the governor while speaking to press in Abu Dhabi on the sidelines of the Institute of International Finance (IIF) Mena Financial Summit.

    Bank Melli Iran and Bank Saderat Iran, the chief noted, are committed to maintain their operations within the UAE despite the U.S. sanctions.

    Al Mansouri added "the two Iranian banks have minimized their activity and are catering (to) Iranian nationals living in the UAE. It is difficult for them (Iranians) to open accounts with other banks."

    MENAFN0711201800450000ID1097669615

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