Iranian-European banks to establish long-term ties soon

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Long-term relations between Iranian and European banks are expected to develop especially in financing civil engineering and production projects, Governor of Central Bank of Iran (CBI) Valiollah Seif announced.

Seif made the remarks in the Fourth Iran-Europe Banking and Business Forum which was held on Saturday at IRIB’s International Conference Center, Tehran.

Various banks have held detailed negotiations with Iran’s banking network, he said.

He pointed to the history of Iran nuclear deal which is also known as Joint Comprehensive Plan of Action (JCPOA), saying that it resulted in maintaining economic balance in the country.

One of the JCPOA’s achievements is that CBI and the banking system as well are fulfilling their responsibilities in planning, developing economy, strengthening financial sector, constructive engagement with international financial markets, establishing up-to-date standards, clarifying banking operation system, etc.

He referred to suitable conditions of Iranian banks and international institutions to resume baking ties with Iran, saying that Iran’s economy with unique capacities is one of the best possible alternatives for foreign investment.

Seif underscored the importance of the international cooperation role in revitalizing Iran’s domestic economy and in technological development of the country.

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