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Entry Submitted by One Who Knows at 12:40 PM EDT on May 25, 2017 Intel Dinar Chronicles & The 2nd GCR Let it be known that there is a &q...

Wednesday, September 7, 2016

Iranian Banks Interaction with Global Banking System Encouraged

FM official: Iran encourages interaction of Iranian banks with global banking system

Tehran, Sept 7, IRNA – Iran is seeking to ease fear of world banking system from doing business with Iranian banks, senior official with the Foreign Ministry Fereydoun Haqbin said on Wednesday.

Fereydoun Haqbin, the director of coordination and strategy of economic affairs of the Foreign Ministry, made the remarks speaking exclusively with IRNA on Wednesday.

Although the United Nations, the European Union and different countries round the world announced they would lift sanctions on Iran from the very first day of the implementation of Iran Deal, restrictions on the banking sector still remain in place, Haqbin said.

Part of the banking restrictions are politically motivated, but in some cases there is a kind of fear which is partly due to lack of knowledge and weakness in communications, the official added.

He said that despite all the restrictions, Iranian banks have been able to transfer a significant sum of their assets and open up a lot of LCs for customers.

In order to remove banking restrictions, Iran seeks to strengthen bilateral banking relations with other countries and in a recent visit to Latin America by Foreign Minister Mohammad Javad Zarif, several agreements were signed between Central Bank of Iran and central banks from Latin American countries.

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