I heard something interesting tonight while dining with friends. I haven't got the time today to follow this up, but a financial journalist might wish to do so. I was told that America banks are withdrawing all facilities from Iranian customers, and unilaterally closing their accounts with no prior consultation. But more to the point, British banks have started to do the same. One Iranian national, who has been a customer of the Royal Bank of Scotland for thirty years, was told his account was being closed. There was no explanation beyond him being told that it was now bank policy to withdraw all banking facilities from Iranian related accounts. This is, I am told, also happening in other UK banks. And it's being dictated by the US government - or so it is alleged.
Thursday, April 30, 2009
Iain Dale's Diary: UK Banks Banning Iranian Customers?