Banking restrictions to apply to all, not just foreigners

TEHRAN, Jan. 30 (MNA) – The Coordinating Council of Banks said in a statement announced that the blocked accounts will be activated as soon as they receive the so-called Shahab code.

Condemning the recent propaganda that claimed Iranian banks have blocked accounts of Afghan migrants in the country, the council said account holders had been earlier notified of the danger of being blocked and that the blocking was not just for Afghan citizens but for all those who have failed to obtain the required banking code known as 'Shahab'. 

Observing the regulations for financial transparency is mandatory in Iran and most countries of the world, not only towards foreign nationals but also towards all bank account holders for various reasons, including the prevention of money laundering, noted the statement. 

Here are the main points that the statement refers to:

1- Due to the need for transparency in financial operations and banking transactions and compliance with anti-money laundering laws and regulations, the Central Bank has long required obtaining complete and accurate identity information for customers and holders of bank accounts and cards.

2- The operational method to ensure the completeness and accuracy of each person's identity information is to obtain the Shahab code, which acts as the electronic bank ID.

A unique identity ID is defined for each bank customer by the NAHAB system. Shahab Code is the main interface between banking and Nahab systems and the NAHAB system can be used for all authorized banks and financial institutions.

3- To obtain the Shahab code, Iranian citizens need a national code, and non-Iranians need a comprehensive code that is being issued by the Ministry of Interior.

4- Since the beginning of the current year, numerous effective actions and follow-ups have been carried out by the Central Bank and the Coordination Council of Banks so that non-Iranians without Shahab code can complete their identity information and receive Shahab code. Fortunately, a large number of citizens of neighboring countries, especially Afghan brothers and sisters, were able to obtain the Shahab code, and of course, some of these loved ones apparently failed to obtain the code due to the illegality of their migration.

5- The information about the issue had been announced on several occasions and each of the account holders had received prior warnings and according to a directive of the Central Bank of Iran, providing services to accounts that had no Shahab code was stopped as of January 25. 

RHM/IRIB3002322

News Code 169253

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