Economy, Business And Markets

Iran, Malaysia to Boost Banking Collaboration

Iran, Malaysia to Boost Banking Collaboration
Iran, Malaysia to Boost Banking Collaboration

The first draft of banking collaboration between the central banks of Iran and Malaysia has been finalized and will be signed by the governors of the two banks.

CBI Vice Governor Akbar Komijani met with his Malaysian counterpart in Kuala Lumpur on the sidelines of the 30th meeting of the council of the Islamic Financial Services Board which he chaired, the official news website of CBI reported.

“There are significant economic and trade potentials to expand ties between our two countries and establishment of banking relations is one of the main factors for facilitating this goal,” he said.

Komijani noted that a number of Iranian banks are looking to resume operations in Malaysia following the removal of sanctions as a result of the nuclear accord, but that requires the Malaysian authorities to process their requests effectively and rapidly.  

Malaysian central bank deputy governor, Encik Abdul Rasheed, welcomed the prospects of improving the level of bilateral banking cooperation, saying Iranian banks will certainly have more room to operate in Malaysia following the signing of the agreement between their central banks.

Komijani also invited Abdul Rasheed to visit Iran for further talks in the future.


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