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Hungary Keen on Improving Banking Ties

Hungary Keen on Improving Banking TiesHungary Keen on Improving Banking Ties

Hungary is interested in banking cooperation with Iran as a step to expand economic ties between the two nations, György Matolcsy, president of the Hungarian National Bank said Friday.

“We are happy about the successful implementation of the nuclear accord between Iran and the six world powers. We are hopeful that such measures can help expand Hungary-Iran banking ties,” Matolcsy said in a meeting with Iran’s ambassador to Budapest, Mohammadreza Morshedzade, IRNA reported.

The senior banker said Hungary’s regulator will discuss with lenders in that country venues for expanding banking relations with Iran.

Morshedzade pointed to the Hungarian premier’s visit to Tehran and said  “Establishing banking cooperation is a prerequisite for furthering economic and trade ties.”

Hungarian Prime Minister Viktor Orban accompanied by a business delegation visited Tehran in November last year and met with First Vice President Esha’q Jahangiri. The two sides signed eight documents and memorandums of understanding to boost economic cooperation.

The documents focused on issues including increased diplomatic ties, promoting investment and cooperation in tourism as well as IT.

Morshedzade took note of the post-sanctions business atmosphere in Iran saying that European and non-European bankers, traders and businesses are showing a keen interest in the emerging Iranian market.

“It seems that with the new economic mood initiated after the lifting of sanctions, the ground is set for closer economic and banking cooperation between Iran and Hungary,” the diplomat said.  

He pointed to the problem of transferring money for Iranian students studying at Hungarian universities and asked the Hungarian banking official to help facilitate the process of the transfers.

Financialtribune.com