(MENAFN) Uruguay's new marijuana industry has run into problem as global anti-money laundering rules are forcing banks to shut the accounts of pharmacies selling the drug legally.
Moreover, Uruguayan pharmacies started selling marijuana last month under a 2013 law that made the nation the first in the world to legalize pot all the way from production to sale.
Meanwhile, lenders like Uruguayan state bank Banco Republica currently say they must abandon such businesses.
In addition, another main bank, Santander of Spain, proclaimed it would close any accounts held with it by Uruguayan pharmacies selling the drug.
MENAFN1908201700450000ID1095748256
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.