Pakistani Banks allowed to do business with Iran

Pakistani Banks allowed to do business with Iran

Shiite News: Pakistani banks have been allowed to restore normal financial relations with Iran in the wake of lifting of ban on Tehran by the United Nations Security Council (UNSC).

The State Bank of Pakistan (SBP) issued on Thursday instructions to all banks and financial institutions in this regard.

“In line with the federal government’s decision to implement the UNSC Resolution dated July 20, 2015 regarding lifting of sanctions against Iran, the State Bank of Pakistan has communicated to banks/FIs that previous sanctions on Iran have been removed and normal business activities can be commenced within the scope of the Resolution,” said the SBP.