Economy, Business And Markets

Agro Bank Expanding Int’l Ties, Says CEO

Agro Bank Expanding Int’l Ties, Says CEOAgro Bank Expanding Int’l Ties, Says CEO

Keshavarzi Bank (agro bank) is expanding its international ties and collaboration, said Morteza Shahidzade, the bank’s CEO as reported by He says the main agriculture bank in Iran is planning to utilize state-of-the-art banking technology in post-sanctions era.

Pointing to his bank’s hosting of the 66th meeting of Asia-Pacific Rural and Agricultural Credit Association (APRACA) executive committee on Oct. 7-10, Shahidzade said the meeting offered the opportunity to his bank to expand collaboration with foreign counterparts.

The senior banker referred to his recent meeting with the Spanish Aresbank’s CEO, Luis Casado, saying that he briefed him on Iran’s vision and direction vis-à-vis foreign investment and the two sides discussed FDI issues of mutual interest.

Shahidzade said the Spaniards are eager to restore bilateral ties with Iranian banks. “Mr. Casado’s deputy, Fekri Sinan, told us that his bank is prepared to open a credit line specific to our bank and create a mechanism for financing our banking ventures in the eurozone countries.”

Aresbank officials had earlier met with officials of Iran’s Bank of Industry and Mines and the Export Development Bank of Iran.