Banks' online gold ban Central Bank warns of action

Oct 5

IRINN reads a Central Bank notice prohibiting banks and credit institutions from providing online gold trading services, including through digital units. It warns of regulatory and disciplinary action against institutions and responsible managers and says numerous transactions risk money laundering and evasion of oversight. This concerns provision of gold-trading services, a different restriction from loans or credit used to purchase gold, currency or cryptocurrency.

Iran's Central Bank issues a notice prohibiting banks and credit institutions from offering online gold trading services, including through digital units, and threatening regulatory and disciplinary action. IRINN cites money-laundering and oversight-evasion risks. The date identifies the reported circular, not an independently established original enactment date.