Report: Iran banks decline to work with Guard-linked firms

September 3, 2016 2:35 PM

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TEHRAN, Iran – An Iranian newspaper says two leading banks have refused to work with companies affiliated with the Revolutionary Guard.

The hard-line Kayhan daily on Saturday reported that private Bank Mellat refused to transfer foreign currency last month for the Guard-affiliated Khatam al-Anbia, the largest contractor of government construction projects in Iran. It says state-run Bank Sepah refused to issue a letter of guarantee f...

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