Joint Iran-Europe Bank Planned
Economy, Business And Markets

Joint Iran-Europe Bank Planned

An Iranian-European bank will be established with three Iranian and four European members serving on the management board, said a senior banking director.
“International monetary institutions evaluated Iranian banks in terms of transparency and efficiency, and agreements have been reached to launch an Iranian-European bank in one of the EU countries with Iran and Europe holding 47% and 53% of the shares respectively,” Ahmad Haji-Mohammadi was also quoted as saying by Mehr News Agency.
Sarmayeh Bank’s head of international affairs also said the bank will be established in Europe early next Iranian year (starting March 21) with the board comprising three Iranian members and four Europeans.
“Three directors had been introduced by the Iranian side, though they need to be approved by the central bank of the destination country,” he added.
Details related to the European bank, the city of operation and the assets involved have not been released yet.
The official noted that the Iranian side will offer its share once the bank starts operation and as for the reserve requirement , it will be provided by European partners for now and Iran will deposit the amount in future.
“Sarmayeh Bank had never been subjected to sanctions since it was not owned by the government, but the bank’s private shareholders had always enjoyed access to SWIFT system even in times of sanctions,” he said.


Short URL : https://goo.gl/XWZVi8
  1. https://goo.gl/UoU3vl
  • https://goo.gl/4DnKnV
  • https://goo.gl/1eIyFR
  • https://goo.gl/2XX6ti
  • https://goo.gl/xhtk0p

You can also read ...

US Sanctions on Iran Affect Trade With UAE
The latest US sanctions against Iran are forcing many Iranian...
New Government Policies Reduce Forex Demand
The implementation of new foreign exchange policies by the...
Failure to Safeguard Iran Deal Will Show EU Still a Paper Tiger
Just a few weeks ago, it seemed that the Iran nuclear deal...
Iraq to Respect Dollar Ban But Not All US Sanctions on Iran
Iraqi Prime Minister Haider al-Abadi stepped back from his...
Gold Coin Gains
The benchmark Bahar Azadi gold coin gained on Tuesday, as both...
Indian Tea Exporters Seeking Special Exchange Rate From Iran
The Indian tea industry has sought a special exchange rate...
Nvidia Rolls Out New Chip Technology for Filmmakers
Nvidia Corp on Monday released a new generation of chips aimed...
Google Tracks Your Movements, Like It or Not
Google wants to know where you go so badly that it records...

Add new comment

Read our comment policy before posting your viewpoints