Iran’s accounts in foreign banks to reopen on Monday

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Deputy governor of the Central Bank of Iran said that Iran’s blocked accounts in foreign banks will be reopened as of Monday, paving the path for transferring country’s monetary assets to Iran.

Gholamali Kamyab who was speaking in a press conference said in response to IRNA reporter’s question on the reason for increasing of foreign currencies exchange rates after announcement of implementation of JCPOA said that the Sunday rise was surprising and lacked logical justification.
‘That is because the CBI had earlier issued a state order according to which the applicants for receiving foreign currencies that had received identification codes could open letters of credit,’ added Kamyab.
He said that according to the state order, the applicants for receiving foreign currencies can receive monetary coverage through Muscat Bank of Oman and the Iran and Europe Bank.
He said that a huge number of letters of credit were opened on the first day of implementation of the JCPOA, adding that this was under such conditions that the world banks were closed today and only some Iranian and some neighboring countries’ banks were open.
‘Therefore, as of Monday with the opening of the foreign countries’ banks we expect the activation of our accounts and not only the transfer of our assets but also the opening of a lot more letters of credit.
Kamyab reiterated that after this development offering banking services both to the commercial and to the non-commercial clients is possible.
‘Iran has a large market and that is the reason why the foreign banks are very eager to cooperate with our country because in a country in which there is active trade the banks can earn good benefits,’ added the CBI top official.
He said that once the world’s major banks were working with Iran and today, too, we expect the same to happen, adding that some of them have already contacted the CBI.

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