‘We are bullied by powerful people’

PM: We’re forced to close bank accounts of Iranian firms and individuals

PUTRAJAYA: Malaysia is forced to close bank accounts belonging to Iranian companies and individuals as the country faces threats to close its banks abroad, said Tun Dr Mahathir Mohamad.

The Prime Minister, who described ties between Putrajaya and Teheran as very good, said the threat was “a kind of bullying by powerful people”.

“Our ties are very good with Iran, but we face some very strong pressures from certain quarters which you may guess.

“And it is very difficult because we receive threats to close our banks abroad,” he told reporters after chairing the annual national student consultative council meeting yesterday.

Dr Mahathir said the closure of bank accounts under Iranian companies and individuals would make things difficult for them.

To a question, the Prime Minister reiterated that Malaysia was forced to make the move and not to help certain quarters.

“We are not helping, we are forced to do this. If we don’t, they will close our banks abroad.

“It is a kind of bullying by powerful people,” he said.

Dr Mahathir was commenting on a report that banks in Malaysia are closing the accounts of Iranian individuals and companies in a sign that the United States’ sanctions are having a far-reaching impact on citizens of the Islamic republic.

According to the report, although Malaysian banks seemed to be more cautious in dealing with Iranians than those elsewhere, some Iranians and one embassy official said there were “mass closures” in the South-East Asian country in recent months.