Taiwan's Mega Int'l Commercial Bank plans to end Taiwan-Iran clearing mechanism after Nov - sources

Mega Financial Holding Co

13/08/2018 10:33

Taipei, Aug 13 (Reuters) - Taiwan's Mega International
Commercial Bank  MEGAFA.UL  plans to terminate its payment
clearing mechanism between Taiwan and Iran after November in a
response to the United States' sanctions on Iran, three people
familiar with the matter said on Monday.
    "Our business with Iran is too sensitive, and we should no
longer get involved in it," an official from the bank told
Reuters, adding that the bank has informed clients the payment
clearing mechanism is likely to be terminated after November.
    New U.S. sanctions on Iran have taken effect last week
despite pleas from Washington's allies, with the U.S. President
Donald Trump saying companies doing business with Iran will be
barred from the U.S.  urn:newsml:reuters.com:*:nL5N1UY564

 (Reporting by Taipei Newsroom; Editing by Vyas Mohan)
 ((LushaZhang1@thomsonreuters.com; 8610-66271276;))