Economy, Business And Markets

Iran-Pak Banking MoU

Iran-Pak Banking MoUIran-Pak Banking MoU

Pakistani Commerce Minister Khurram Dastgir Khan has said the federal Cabinet would approve the memorandum of understanding regarding resumption of banking ties between Iran and Pakistan to strengthen bilateral economic relations. The minister said the Economic Coordination Committee has approved the MoU between the central banks of Iran and Pakistan on August 29 to enhance bilateral relations. Based on the agreement, Pakistan and Iran would create a bilateral mechanism that would efficiently transfer payments without any banking problem, he was quoted as saying by “By the end of September, we would have proper banking relationship,” he said.