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February 29, 2012

AP: Dubai bank cuts off business with Iranian lenders

by Adam Schreck
The Associated Press

A Dubai Islamic bank with ties to the emirate's ruling family said Wednesday it stopped doing business with Iranian banks in December, shortly before the United States approved new sanctions targeting the country's financial system.

The decision by Noor Islamic Bank cuts off yet another of Iran's links to the international banking system. Noor appears to have acted, at least indirectly, in response to Washington's efforts to tighten the screws on Tehran.


Read more here: http://www.miamiherald.com/2012/02/29/2666980/dubai-bank-cuts-off-business-with.html#storylink=cpy

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