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Iran, Pakistan to Settle Claims Through CBs

Iran, Pakistan to Settle Claims Through CBsIran, Pakistan to Settle Claims Through CBs

State Bank of Pakistan Governor Ashraf Mahmood Wathra has said SBP and the Central Bank of Iran will sign an agreement soon that will allow Pakistani and Iranian exporters to settle their claims through these banks.

Speaking at the Lahore Chamber of Commerce and Industry on Friday, Wathra said the Cabinet has approved the agreement between the two banks.

“Trade with Iran is very close to my heart. I am pursuing it since my appointment without wasting any moment,” he was quoted as saying by Dailytimes.com.

LCCI President Abdul Basit, Vice President Muhammad Nasir Hameed Khan, Minister for Industries Sheikh Alauddin, MNA Pervez Malik and top officials of SBP, including Deputy Governor Saeed Ahmad, also spoke on the occasion.

The governor said the agreement would help boost mutual trade.  “In Pakistan and India, credit to GDP ratio was correlated to tax-to-GDP ratio that is around 11% and 26% in Pakistan and India, respectively,” he said.

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