Iran in talks with Malaysia to solve banking restrictions on Iranians, spokesman says

TEHERAN - Iran is in talks with Malaysia to solve problems concerning banking restrictions on Iranian nationals by some Malaysian financial institutions, Iran's Foreign Ministry spokesman Abbas Mousavi said on Thursday (Oct 31) as quoted by Xinhua news agency.

Reports said on Wednesday that banks in Malaysia are closing the accounts of Iranian individuals and companies, what is believed to be a measure linked to sanctions imposed by Washington against Teheran.

The Straits Times has learnt that more than 4,000 foreign nationals residing legally in Malaysia were affected by the closing of their banking accounts with Maybank and CIMB, the two largest Malaysian banks.

The residents affected include Algerians, Iranians, Iraqis, Nigerians, Syrians, Ukrainians and Yemenis, sources told The Straits Times.

"Unfortunately, under the influence of the United States' economic terrorism, some Malaysian banks have considered restrictions for opening accounts and providing services to Iranian nationals," Mr Mousavi was quoted as saying by Press TV.

"Our country's embassy in Malaysia is in talks with Malaysian state institutions and banking officials ... various rounds of talks have been held with relevant Malaysian officials to find a solution to this problem," Mr Mousavi said, as quoted by Xinhua.

He expressed hope that the "friendly country of Malaysia" will adopt measures based on goodwill to resolve the problem.

Malaysia's Prime Minister Mahathir Mohamad, asked on Wednesday why some bank accounts of Iranians were terminated, said: "Our ties with Iran are very good. But we face some very strong pressure from certain quarters, which you may guess."

"We are forced to do this because if we don't, they will close our banks aboard," The Star quoted him as saying.

He described the move as "a kind of bullying by powerful people".