Standard Chartered Bank is being penalized by New York for dealing with Iran. This article said that other banks are doing the same.
http://finance.fortune.cnn.com/2012/08/08/iran-standard-chartered/?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
http://finance.fortune.cnn.com/2012/08/08/iran-standard-chartered/?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
4 comments:
Iranians are very intelligent, creative people. They even resort to paying for goods and services in a big roundabout way, suppliers could be asked to get advance payment in cash from moneychangers or a certain Company.
The tougher the US Embargo, the more creative they get.
Can't help admiring them, the people are victims of politics.
Guess whether the local Chartered Bank also involved, what about our own local Banks, are they as clean as they look?
Our govt has share in standchart? Once again, were they sleeping?
Feel sorry for Standard Chart. If the Iranian intends to beat US's embargo, just wondering how a banker in Standard Chart can figure that out. Iranian could hire many proxies anywhere in the world who are not Iranians to carry out those trades.
In Iran chickens are now sold in the black market. Why? to be deep fried in their abundant oil?
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