32366
Asian Banks Better Placed Post Sanctions
Economy, Business And Markets

Asian Banks Better Placed Post Sanctions

Asian banks are expected to be among the first institutions to venture into Iran once sanctions are eased, with western financial players remaining cautious for now, banking officials said on Thursday.
Iran and world powers reached a deal in July over Tehran’s nuclear program in exchange for sanctions relief, which is expected to come into effect in January, pending Tehran fulfilling its obligations outlined in the deal aka the JCPOA, Reuters reported.
“We will see the Asian banks going back in,” said Justine Walker, of the British Bankers’ Association (BBA) lobby group, without giving further details.
Amr Aboushaban, of emerging markets investment bank Renaissance Capital, said western banks would tread carefully, having experienced multiple fines in recent years for sanctions violations.
He said that smaller players and Asian banks are most likely to lead the return to the Iranian finance sector.
“The Persian Gulf banks -- a couple of countries -- will be doing, especially, short-term lending (in Iran),” he added.
Iran is struggling with capital constraints after years of financial freezes. So far, no banks have publicly announced plans to return to Iran.

 

Short URL : http://goo.gl/LewZKS
  1. http://goo.gl/cBXB3G
  • http://goo.gl/Btjps2
  • http://goo.gl/KQeaHq
  • http://goo.gl/dWOyaA
  • http://goo.gl/x12JpL

You can also read ...

Iran Receives First Round of Post-Sanctions Finance From European Banks
In what were the first finance deals clinched with cautious...
Indian Bank to Extend $150m for Chabahar Development
Iran is expected “very soon” to approach India’s Exim Bank...
TEDPIX soared by 3,459 points or 4.2% during the sixth month of the year–the highest monthly rise recorded so far this year.
Tehran Stock Exchange’s primary index TEDPIX gained 8,346.3...
68% of Non-Oil Exports Headed to 5 Countries
China, Iraq, the UAE, South Korea and India imported 68.7% of...
Gold Coin Hits 3-Week Low
Gold coin prices are modestly down and hit a three-week low in...
Flat Steel Import Market Cools as Domestic Prices Drop
Import prices for flat steel materials cooled down in Iran in...
51.5% Rise in University Graduates
The findings of the most recent National Population and...
Roads and Urban Development Minister Abbas Akhoundi has...

Trending

Googleplus