Iranian bank accounts in Malaysia blocked due to sanctions
Malaysian banks have closed the bank accounts of Iranian individuals and companies, reportedly in response to US financial sanctions on Iran, which are putting more pressure on people's lives in Iran.
One day after the publication of a Human Rights Watch report on the devastating effects of sanctions on Iranian people's access to medicine and medical supplies, news is being released that Iranian bank accounts in Malaysia have been frozen.
Reuters reported on Wednesday, October 30, from Kuala Lumpur, that Iranian bank accounts in Malaysia had been suddenly closed. Banks have given Iranians living in Malaysia a month to withdraw their money from their accounts.
It is said that a number of Iranian individuals and companies that had bank accounts in Malaysia confirmed this news in an interview with a Reuters reporter.
The reason for the freezing of Iranian bank accounts by Malaysian banks has been announced as US sanctions on Iran. Reuters considers this a manifestation of increasing pressure on the Iranian people.
“Bulk closing of accounts”
A Reuters reporter reported on the “mass closure” of Iranian bank accounts in Malaysia. This was confirmed by a number of Iranians living in Malaysia, as well as an employee of the Islamic Republic of Iran’s embassy in Kuala Lumpur.
Malaysian banks appear to be reacting more cautiously to US threats to punish individuals and financial institutions that do business with Iranians than other countries in Southeast Asia.
Regarding the “mass closure” of Iranian bank accounts in Malaysia, university professor Behrang Samadi told Reuters that Malaysian banks are acting as if they are “more Catholic than the Pope.” He was referring to the access Iranians living in the United States have to their bank accounts.
It is said that around 10,000 Iranian citizens live in Malaysia. Behrang Samadi is one of the Iranians whose bank account has been frozen after 14 years.
Samadi said that bank officials informed him that his bank account would be closed within a month. He said that as of Sunday, October 27, he was still able to access his account online.
It is worth noting that Malaysia is among the countries that have tried to maintain diplomatic relations with the Islamic Republic of Iran despite the US sanctions on Iran.
It should be added that the banks have only sent a short letter, without giving a reason, to inform Iranians living in Malaysia that they are ending the provision of banking services to them, and have expressed regret for this.
Reuters' efforts to get Malaysian government officials to respond to the banks' actions were unsuccessful.
Source: DW
