Despite the change in the structure of banking systems after the financial crisis, international banking is still considered as one of the important sources of financing for developing countries. In the Iranian economy, due to the low level depth of capital market and the lack of suitable alternatives, the financing system is a bank-based system and banks have a great responsibility in financing small and large enterprises. The absence of foreign banks in Iran at the level and scale of other developing economies indicates Iran failure to properly exploit its sources of financing, especially when the country was not subject to economic sanctions. This study has argued about the importance and position of international banking in the economic system and then has tried to identify the key challenges of the international banking system in Iran. In this regard, qualitative research has been conducted by qualitative content analysis method with the presence of 15 experts in this field. The data collected through semi-structured interviews have been analyzed and the results indicate that: Very limited connection and access to the global financial system,limited implementation of internationally accepted standards in banking operations, non-compliance with the standards of the Financial Action Task Force, exchange rate fluctuations, corporate governance weakness, and credit risk rating are the most important challenges of our countrychr('39')s international banking system and these challenges have been due to macro variables such as: foreign policy orientation, dollar hegemony in the global financial system, comprehensive and targeted sanctions and regulatory barriers.