Bank Sepah is planning to promote its foreign branches and affiliates, and strengthen its capital and human resources while preparing to reenter international banking, said Mohammad Kazem Choghazari, the bank’s CEO. He made the announcement after the UN Security Council removed the bank and its international branches from sanctions list on Sunday. Choghazari thanked the authorities for their untiring efforts in sparing the country from the decade-plus sanctions noting that Sepah is taking steps to upgrade its services in accordance with international banking standards, banker.ir reported. The UN body imposed an asset freeze on Iranian banks in 2007 because of their alleged involvement in Tehran’s nuclear program. Bank Sepah, established in 1925, is a commercial bank owned by the government.
