Economy, Business And Markets

Iran Banking Forum in Frankfurt in May

Iran Banking Forum in Frankfurt in May Iran Banking Forum in Frankfurt in May

The Iran International Banking Forum 2016 will be held in Frankfurt in May to evaluate the country's banking system, the head of the Iranian World Trade Center announced.

The event, which is organized by a host of international sponsors, will focus also on the current economic situation in Iran and discuss ways to develop and improve the role and contribution of stakeholders.

"With the implementation of the Joint Comprehensive Plan of Action (JCPOA), and the gradual lifting of international sanctions, Iranian and international banking experts are looking for the best venues to facilitate mutual and international cooperation," Mohammad Reza Sabzalipour was quoted by as saying on Saturday.

Cutting off the Iranian banking system from the international banking network hurt the efficiency and proficiency of Iranian banks and financial institutions. "However, with the implementation of the JCPOA, the lifting of economic sanctions and the provisions for a direct connection between Iranian banks and the international banking network, the former can now prepare for a successful return to the global banking network by improving their performance and meeting international norms."

Accordingly, at the meeting to be held May 17-18 at the Jumeirah Frankfurt Hotel, CEOs of Iranian banks, representatives from the Central Bank of Iran, head of the Iranian World Trade Center and a group of international senior experts will speak.

Defining an Effective Path  

Providing insight into meeting international banking standards, analyzing the process of globalization of the banking industry and introducing the most efficient means of connection between the international money/credit institutions and Iranian banks will be the main topics of discussion.

Highlighting the good performance of the Iranian banking system before the international sanctions started to bite, the IWTC official said Iranian lenders have had a long and successful relationship with banks in England, France, Germany, Italy, Japan and China. "Therefore, since foreign banks have never witnessed any breach by Iranians and are familiar with Iranian markets, the country will be an ideal destination for their investment."

With the lifting of sanctions and implementation of the nuclear deal, we will witness a sizable increase in international investments in Iranian markets, he added.

He emphasized that Iranian banks, along with introducing Iran's commercial and industrial opportunities to foreign firms, should provide the necessary assurances to be able to access commercial and industrial finance from the major international lenders.

Among the speakers of the Frankfurt meeting are Ahmad Taheri Behbehani, CEO of Bank Saman, Mehrdad Sepahvand, advisor to the Central Bank of Iran, Parviz Aghili, CEO of Middle East Bank and Hossein Sadeghi,  director of the education and research Institute at the Iran Chamber of Commerce.