Printer Friendly

-Iranian customers of failed Royal Bank have problem with deposit confirmation.

Global Banking News-November 30, 2012--Iranian customers of failed Royal Bank have problem with deposit confirmation(C)2012 ENPublishing -

Global Banking News - 30 November 2012

The Azerbaijan Deposit Insurance Fund has admitted that it is facing problems confirming the deposits of the majority of Iranian customers of Royal Bank, which was recently closed and declared bankrupt.

An official said that 90 percent of Iranian customers lack adequate documentary confirmation of their deposits in the bank. One of the reasons is that the citizen identification number in the passports of Iranian citizens changes when the passports are replaced. This has lead to a mismatch between the ID numbers recorded by the bank and the numbers being produced by the customer.

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2012 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Nov 30, 2012
Previous Article:-HSBC's takeover of RBS's Indian retail and commercial banking unit called off.
Next Article:-Federal Reserve drains USD1.18bn reserves to maintain liquidity level.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |