MPs vote to enable CBI to restore funds from Bahrain

Iranian lawmakers have voted to enable the Central Bank of Iran (CBI) to take necessary measures in pursuit of Iran’s funds from Bahrain’s banks.

In an open session of the parliament on Sunday, the lawmakers passed a bill put forward by the Economic Committee to refer the dispute between the CBI and the Kingdom of Bahrain to arbitration.

According to the bill, the CBI would be allowed to pursue the restitution of Iran’s funds and claim damages as an investor from Bahrain’s banks.

In case Bahrain refrains from paying its debts to Iran, the CBI, in cooperation with the Legal Department of the Presidency, would be obliged to take legal action against the banks or the government of Bahrain.