AgriBank Forging Correspondent Relations

Negotiations are underway between Bank Keshavarzi (agribank) and several  countries to finance agreements worth $2.5 billion, announced the bank’s CEO. “Bank Keshavarzi has established the highest amount of correspondent relations with foreign banks and while opening LCs with foreign banks made possible as a result of the nuclear accord, we are following up on funding agreements,” Morteza Shahidzadeh was quoted as saying by IBENA.”For example, under the auspices of the Central Bank of Iran and the Ministry of Economic Affairs and Finance, we are now able and willing to finance agreements with countries such as Italy, Switzerland, Spain, Turkey, Austria, Africa and India worth  $2.5 billion.”The official said his bank now has over 70 correspondent relations.