Central Bank Dismisses 11 Bank Branch Managers Over Facilitating FX and Gold Market Abuse

Iran's Central Bank announced on Tuesday, September 29, 2026 (7 Mehr 1405), that it has dismissed 11 bank branch managers following a deterrent disciplinary order, after the managers failed to carry out their legal customer-identification and ongoing-monitoring duties, creating conditions that allowed some individuals to abuse the foreign-exchange and gold markets. The bank warned credit institutions against any violation of customer-identification rules and said future regulatory and disciplinary measures would be pursued and applied more rigorously across all levels of these institutions, including branch staff, headquarters and managers.