Talking to IRNA on Tuesday, he said the British banking system has already issued necessary documents which allow the bank to start operation through its subsidiary branch in London.

He said the operations are due to be conducted through the independent London investment group PLC which is completely owned by Iran Melli Bank and is supervised by the British banking system.

Noting that sanctions imposed a number of restrictions on Iranian financial transactions, he said the bank’s Dubai branch is now ready for such operations.

According to the official, the Iran Melli Bank has 17 overseas branches which are preparing themselves to resume services to customers.

After the implementation of the Joint Comprehensive Plan of Action (JCPOA), sanctions on 12 Iranian banks operating outside the country were lifted.