A new CBI decree said banks should observe a daily limit of 150 million rials ($652) cash from banks for all customers, meaning that companies and legal entities would also be covered by the new law, Press TV reported.

The decree did not say whether businesses that have workers on their payrolls would be exempt from the new cap.

The decree would be valid until late March 2021 and would nullify a previous cap imposed in early June which allowed cash withdrawals of up to 450 million rials (nearly $2,000).

The order has been issued by the CBI’s Department on Fighting Money Laundering and Terrorism Financing. It is in line with a series of extensive measures implemented in recent years to clamp down on illegal practices in the Iranian banking system.

However, experts say the new cap could also serve government policies meant to contain inflation as it would prevent cash hoarding and panic buying related to the coronavirus pandemic.

Electronic transfers and e-payment systems are in wide use in Iran although banks charge small fees for certain services.

The government has implemented various measures to contain prices as the economy is under double pressure, both because of the pandemic and a series of unilateral sanctions imposed by the US.

Iran’s currency, the rial, was again trading low against major foreign currencies on Tuesday despite a brief surge reported last week.

The rial closed at 235,000 against the US dollar in unofficial market trade, down more than five percent compared to the previous day.

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The Times, which spoke with five current and former Deutsche Bank employees, also said the nature of the transactions “was not clear,” though the report added that at least some of them involved “money flowing back and forth with overseas entities or individuals, which bank employees considered suspicious.”

Executives at Deutsche Bank, however, rejected the advice of their specialists, according to the Times, which reported that the recommendations were never filed with the Treasury Department’s Financial Crimes Enforcement Network.

Former employee Tammy McFadden said she was terminated last year after raising concerns about the bank’s practices.

“You present them with everything, and you give them a recommendation, and nothing happens,” she said, adding that it is their way. “They are prone to discounting everything.”

The report is significant in part because Deutsche Bank has been one of the few big banks willing to lend money to the Trump Organization in recent years. Trump’s businesses have borrowed more than $300 million from Deutsche to finance a golf course in Florida and hotels in Chicago and Washington, according to financial disclosures and public filings from 2012 to 2015.

Trump is already embroiled in another scandal involving his refusal to produce his tax returns.

Democrats want his returns as part of their inquiry into possible conflicts of interest posed by his continued ownership of extensive business interests, both before and after his inauguration as president in 2016.

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“The reports are being published by those who have dominated Iranian cinema by their flops and when they see their interests under threat from new successful productions, they begin poisoning the minds of people by accusing the successful filmmakers of using dirty money in their movies,” Mirkarimi said at a press conference for his latest film “Qasre Shirin” as a director.

He addressed the journalists and said, “You will see ‘We Are All Together’ in the future and you will find it a different comedy.”

He said that the accusing people themselves use the dirty money to produce their films.

Starring Hamed Behdad, “Qasre Shirin” had its Iranian premiere at the 37th Fajr Film Festival on Friday. The film is competing in the official section of the festival, which is currently underway in Tehran.

Earlier last week, Saeid Malekan, the producer of “Gholamreza Takhti”, a movie about the life story of Iranian Olympic gold-medalist wrestler Gholamreza Takhti, denied an allegation of money laundering.

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President Hassan Rouhani has forwarded the Act of Amendment to the Law of Anti Money Laundering to the Ministry of Economy and the judiciary.

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A senior Parliament Member said Sun. that the Expediency Council will give the final say on the two FATF-related bills on combating money laundering and Iran’s accession to the convention against the funding of terrorism (CFT).

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