55074
Muhammad Ijaz-ul-Haq(3rd R) a member of the National Assembly of Pakistan 
Muhammad Ijaz-ul-Haq(3rd R) a member of the National Assembly of Pakistan 

Pakistan Ponders Opening Bank Branches in Iran

Pakistan Ponders Opening Bank Branches in Iran

A proposal for Pakistani banks to open branches in Iran will soon be reviewed by the neighboring country’s officials, said a member of the National Assembly of the South Asian country.
“After I return to Pakistan, I will put forth the proposal to establish banking branches in Iran with banking executives,” Muhammad Ijaz-ul-Haq was quoted as saying by Banker.ir in his meeting with officials of the Tehran Chamber of Commerce, Industries, Mines and Agriculture.
Noting that bilateral ties have been improving since the lifting of sanctions as a result of Iran’s nuclear deal with world powers, the Pakistani official said the first draft of a memorandum of understanding (to strengthen banking relations) will soon be presented to Iranian representatives for their review.
“There will be a conference in Lahore in three to four months and we invite you to attend it,” he added.
Stressing that a banking disconnect between the two sides had created a significant barrier to mutual trade, he added that this barrier must be consigned to the past as soon as possible.
Ijaz-ul-Haq further said he is in favor of forming an Iran-Pakistan chamber and for TCCIM to introduce representatives for the proposed chamber.
The secretary-general of TCCIM was at the head of the panel meeting with the Pakistani delegation and spoke of business ties between the two Asian countries.
“The volume of trade between Iran and Pakistan is currently $900 million, which is not proportional to the existing potentials,” Bahman Eshqi said.
“President Hassan Rouhani has established a goal to increase the volume of bilateral dealings to $5 billion in five years.”
Eshqi announced that TCCIM is currently drafting an MoU to expand its dealings with Pakistan “in sectors such as energy, transit and other economic sectors”.

Short URL : https://goo.gl/eZY5BR
  1. https://goo.gl/BYZxKr
  • https://goo.gl/cFGuKZ
  • https://goo.gl/Xlq7uo
  • https://goo.gl/Y0BMtu
  • https://goo.gl/Wdvwu4

You can also read ...

Big Benefits of a German ‘Iran Bank’
Since US President Donald Trump pulled out of the nuclear...
Islamic Bonds Worth $25m Issued for  Locomotive Manufacturing
Some 1.05 trillion rials ($25 million) worth of Islamic bonds...
Audi Names New Leader After CEO Arrested
Audi has tapped its top sales executive to lead the company...
Structural Reforms in Banks  to Help Ensure Fiscal Stability
The second and final day of the Conference on Monetary and...
Hyundai Elantra
After local media reported that the South Korean carmaker...
Kerman to Host 2 Int’l Mining Expos Next Week
The Sixth International Exhibition of Mining, Mineral...
Two-Month Auto Parts Import Bill: $468m
Iran’s auto parts import bill for the first two months of the...
Easy-Open Can Lid Imports  at $22 Million
Close to 3,610 tons of aluminum easy-open can lids worth $22...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus