BCP-Sina Bank Tie-Up

Iranian private lender, Bank Sina, has opened an account in Switzerland’s BCP, which allows Sina to transfer euro and Swiss franc. According to a press release released on Sina’s website on Saturday, the bank is also ready to issue letters of credit and receive finance from the Swiss lender. The move is in line with plans for expanding the international operations of the bank, the statement reads. Formerly, the lender had established links with Bank Muscat, Halkbank and Turkey’s Active Bank.  Officials from Sina visited Oman back in October and clinched primary agreements for expanding ties with Bank Nizwa. Earlier this month, Sina said it will open a branch in Munich, Germany, by August 2017.