Economy, Business And Markets

Talks With World Bankers On Normalizing Relations

Talks With World Bankers On Normalizing Relations Talks With World Bankers On Normalizing Relations

Head of the central bank and Iran's economy minister held talks with their counterparts on the sidelines of the annual meeting of the World Bank Group and the International Monetary Fund which was held in Peruvian capital Lima from Oct. 7-11, the CBI reported.

Valiolah Seif, the CBI governor, embarked on a series of bilateral meetings with the central bank chiefs of Germany, France, India and Turkey during which the two sides discussed measures to help restore normal banking ties after the international sanctions against Iran are lifted. Seif called for sharing experience and expertise on a variety of banking issues including, but not limited to, anti-money laundering training, supervision and regulations.

On the second day, the governor met with IMF director for Middle East and Central Asia during which preparations for the post-sanction era were discussed. Seif also met with his Italian and Spanish counterparts in which both parties stressed the need to enhance banking relations in the post-sanctions period.

Meanwhile, Seif welcomed a proposal by the Afghan central bank governor expressing interest in Iranian experience in banking and relevant fields.

In a meeting with senior managers of a major German bank that ranks among the top three banks in the world, the two sides decided to draft a memorandum of understanding. The name of the German bank was not immediately known.

Accompanying the CBI governor was his deputy for forex affairs, Gholamali Kamyab, who also conferred with five European and four Asian bank managers. He briefed the bankers on the implementation process of the recent nuclear agreement between Iran and the six world powers and reviewed ways to resume normal banking relations.

The Economy Minister Ali Tayyebnia held meetings with the heads of Islamic Development Bank and International Finance Corporation which is a member of the World Bank Group and is the largest global development institution focused exclusively on the private sector in developing countries.

The minister called for effective assistance from the two organizations.

Tayyebnia also met the British Chancellor of the Exchequer George Osborne and the two men examined ways to improve and augment economic collaboration between the two countries. The minister was accompanied by Muhammad Khazaie, president of the Organization for Investment, Economic and Technical Assistance of Iran.