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Report: BBA members to discuss Iran sanctions with US secretary of state

The British Bankers' Association has invited its members tosend their senior representatives to a meeting with U.S. Secretary of StateJohn Kerry to discuss the implications of restoring business ties with Iran,Sky News reported May 9.

U.K. Foreign Secretary Philip Hammond had proposed themeeting, which is expected to take place in the week of May 9 and also includeexecutives from French and German banks, according to sources.

There has been some confusion among foreign banks regardingthe impact of doing business with Iran after many international sanctionsagainst Iran were lifted in 2015. However, some U.S. restrictions .

The BBA will reportedly establish a working group to addressre-engagement with Iran, according to an April 28 Sky News .