Credit Suisse shuts door to clients from Iran

[katty]

more at:

http://www.swissinfo.org/sen/swissinfo.html?siteSect=106&sid=6406554&cKey=1138055556000

Tuesday 24.01.2006, CET 00:53

Credit Suisse shuts door to clients from Iran

swissinfo January 23, 2006 10:01 PM

A new logo but no new clients from Iran and Syria (Keystone Archive)
Credit Suisse, Switzerland's second largest bank, says it will not be entering into any new business with clients in Iran and Syria.

The announcement comes just a day after its rival, UBS, announced it was severing ties with all clients in Iran.


Credit Suisse said on Monday that it would not be taking on any more new business in the countries concerned, but current ties to clients would be continued.

The step, which also applies to clients from North Korea, was taken because of the geopolitical situation and as a result of internal risk assessment, a spokesman said.

On Sunday Credit Suisse said it was watching the situation in Iran closely but argued it could not terminate relationships at short notice.

[orwell]

1. The Global Cabals...

...circle the wagons.

Oh this is so good for the economic future.

[bbinacan]

2. Nothing new here b/c most

US based firms have forbidden opening accounts for Iranians. This pre dates the Patriot Act and 9/11.