58253
Iran, Turkey Central Banks Sign Cooperation Agreement
Economy, Business And Markets

Iran, Turkey Central Banks Sign Cooperation Agreement

Central banks of Iran and Turkey on Wednesday signed an agreement to work on addressing current banking issues between the two countries including integrating the two countries' payment networks and  using national currencies for bilateral trade.
The agreement was signed by Mohammad Yaqoubi, CBI's deputy for international affairs, and Mehmet Taskin, deputy executive director at Central Bank of Turkey, during the third meeting of Iran-Turkey banking committee in Tehran.
The committee is formed to remove banking obstacles to boosting the two countries’ trade volume. Iran and Turkey had agreed earlier to increase their trade to $30 billion by the end of 2017. The next meeting of the committee will be held at the presence of representatives from commercial banks of the two countries. 
Back in April, Iranian and Turkish officials agreed to launch a joint banking committee with four state-owned and four private banks from each country as members. 
Currently three branches of Bank Mellat are operating in Ankara, Istanbul and Izmir. Saman Bank, Parsian Bank and Bank Pasargad Iran have reportedly applied for opening branches in Turkey. 
It was announced in April that Ziraat Bank had opened an account for the CBI.  State-owned Ziraat Bank, which is Turkey's second-largest bank, has a representative office in Tehran. 
Export Development Bank of Iran and Turk Exim Bank also agreed to start a seven-year cooperation scheme over Turk Exim's investments in Iran 

Short URL : https://goo.gl/Ny5xdy
  1. https://goo.gl/yBczCZ
  • https://goo.gl/0byNBy
  • https://goo.gl/89srgp
  • https://goo.gl/iRMosM
  • https://goo.gl/J3kkIR

You can also read ...

Decline in Forex  Rates Expected
While the foreign exchange rates are still considered bullish...
Economic War on Iran Is War on Eurasia Integration
Hysteria reigned supreme after the first round of US sanctions...
German Rail Operator, Deutsche Telekom End Iran Projects
German rail operator Deutsche Bahn and Deutsche Telekom are...
Emirati Paper: Baghdad Expected to Maintain Strong Economic Ties With Tehran
Iraq’s ties with Iran are likely to grow stronger as a result...
 New ATR Planes Join Iran Air Fleet
The ATR 72-600 planes recently delivered to Iran Air have...
NZ Exporters Wary of Rising  US-Iran Trade Tensions
New Zealand exporters are looking to worsening US-Iran...
 TPO Clarifies Import Ban List to Foreign Traders
The recent ban imposed on the import of certain products has...
Australian Teen Hacked Apple’s Computer Network
An Australian teenager has pleaded guilty to hacking into the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus