Pakistan to Facilitate Iran Banking Channels
Pakistan’s Federal Minister for Commerce Khurram Dastgir Khan has directed the representatives of the country’s banks to give viable proposals within a month for facilitating banking transactions with Iran.
Chairing a meeting with the State Bank of Pakistan (SBP) and private banks on Tuesday for exploring banking channels to boost trade with post-sanctions Iran, he said that Pakistan was searching for ways and means to initiate trade with Iran in a big way despite the fact that several impediments still persist even after the lifting of sanctions, nation.com reported.
The meeting was informed that despite lifting of international sanctions on Iran, private banks are reluctant to establish direct channels with the country. The absence of banking links because of the refusal of international banks to support transactions with Iran is a primary reason why Pakistan’s trade has not got the much-expected boost from trade with Iran. Representatives of Pakistani private banks visited Iran a few months ago and reported a great enthusiasm from there regarding trade with Pakistan.