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Banque Misr, long responsible for controlling a number of industrial companies in addition to conducting ordinary banking business, was nationalized in 1960.
In a conference call with reporters, Mr. Szubin described the sanctions as a large achievement that had left Iran "almost without recourse through ordinary banking channels".
To expand greatly, however, will require new agreements on everything from technology transfer and legal protections from expropriation to monetary exchange and ordinary banking procedures.
Customers of RBS and NatWest had their ordinary banking services back up and running within days, but the chaos affected Ulster Bank customers for a month.
Because this isn't just an everyday story of ordinary banking folk constantly hatching schemes to pervert markets, morality and the course of justice.
"I think there are around 12,000 parishes; contrast that with an ordinary banking network of just over 1,000 branches or so.
Similar(49)
"An ordinary bank account".
Why does Grameen succeed where ordinary banks fear to tread?
"It's a bank, but not an ordinary bank".
Otherwise, this is similar to opening an ordinary bank account.
Still, ordinary banks appear better protected than they were in 2008.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com