Iran, Ukraine to promote banking cooperation

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Following the implementation of the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), Iran’s banking system has managed to promote ties with various countries including Ukraine, says a Central Bank of Iran official.

In the post-sanctions era, Iran has opened brokerage accounts in India, China, South Korea, Japan, Russia, Turkey and many European countries, including Germany, Italy, Austria, Holland and the Switzerland, said CBI Deputy for Foreign Currency Affairs Gholam-Ali Kamyab in a joint Iran-Ukraine banking meeting on Thursday.

The meeting attended by the two countries’ deputy heads of central banks for foreign currency affairs and representatives of Iranian and Ukrainian banks was held in the premises of the CBI.

After removal of sanctions, all banking operations including opening accounts and transferring funds between the Iranian and foreign banks have been possible without any limitations, Kamyab told the gathering.

Underlining the need for promoting efficient banking ties for enhancement of commercial exchanges, he said that Iranian banks have so far established over 614 brokerage ties with 230 international banks.

Referring to the level of Iran-Ukraine commercial exchanges, he said that based on figures released by the Trade Development Organization, average annual trade exchanges between the two countries stood at 321 million dollars over the past ten years until the end of 2016.

Ukrainian Deputy Governor Oleg Churiy, on his part, said that his country has no limits for establishing banking ties with Iran.

At the end of the meeting, the two officials signed a memorandum of understanding in a bid to promote banking cooperation.

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