Gulf banks exploring prospects in Iran, others may follow

By Tom Arnold and Jonathan Saul DUBAI/LONDON (Reuters) – Gulf banks including Dubai’s largest lender Emirates NBD are already meeting prospective clients and taking legal advice about entering Iran’s financial system now that many international sanctions have been lifted. European banks are more cautious with some, including Deutsche Bank, remembering past fines from regulators for breaking sanctions, though Commerzbank said it was reviewing its policy of not doing business in Iran. Many international sanctions relating to Iran’s nuclear program were lifted but most involving U.S. players remain in place.

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