Economy, Business And Markets

Eihbank to Expand in Europe

Eihbank to Expand in EuropeEihbank to Expand in Europe

Eihbank (EUROPAEISCH-IRANISCHE HANDELSBANK) wants to increase the number of its branches in Europe, said Ali Ashraf Afkhami, Bank of Mine and Industry’s chief executive at a meeting with a Spanish trade delegation on Wednesday.

Eihbank, established in 1971, is based in Hamburg and operates as a specialized bank for services and business promotion with Iran. Bank of Industry and Mine, a specialized state-owned lender, is the major shareholder of Eihbank. Both banks have been under international sanctions since 2011.

“Iran is planning to attract investment for its infrastructure development and Spanish companies can use this opportunity for investment,” he said quoted by  

“Foreign involvement would promote Iran’s private sector and enhance knowledge and technology in the country.”

Afkhami recalled that Iran abides by international rules and regulations and said his bank has so far held positive talks with European banks.

Isaac Martin Barbero, director general for International Corporate Development at the Spanish Agency for the Promotion and Attraction of Foreign Investment, said his country is willing to invest in Iranian transport, tourism and renewable energy.

The Spanish official also called on Iran to reduce its investment risk.