Iran, Pakistan Sign Agreement on Banking and Payment Arrangement
Economy, Business And Markets

Iran, Pakistan Sign Agreement on Banking and Payment Arrangement

 An agreement on Banking and Payment Arrangement has been signed by the State Bank of Pakistan and the Central Bank of Iran in Tehran on Friday.
Riaz Riazuddin, deputy governor of SBP, and Gholamali Kamyab, CBI’s deputy for foreign exchange affairs, signed the agreement on behalf of their respective central banks, SBP reported on its website.
According to the statement, the objective of BPA is to provide a settlement mechanism to promote trade between Pakistan and Iran.  This mechanism will be used for trade payments conducted via letter of credit and in accordance with international laws and regulations.
It added that in the next step, both the central banks will invite banks in their respective jurisdictions to act as authorized entities for undertaking trade transactions under the BPA.  More details of the mechanism will be issued by SBP in due course. State Bank of Pakistan expects this agreement to help strengthen trade links between the two countries.


Short URL : https://goo.gl/ufb9CB
  1. https://goo.gl/yJhj5V
  • https://goo.gl/wUQECe
  • https://goo.gl/Za3Xsf
  • https://goo.gl/ft8H3b
  • https://goo.gl/JGNcMJ

You can also read ...

Iran has specified the amount of prescription medicines...
Iran, Iraq Private Sector Officials Meet in Tehran
The chambers of commerce of Iran and Iraq surveyed ways of...
Finnish IT Company Renews Iran Contracts
A Finnish provider of telecom information technology solutions...
Tehran Market: Euro and USD Keep Climbing
Foreign exchange rates were again defiant and continued to...
Iran, UK Renew Trade Commitments
High-level trade representatives of Iran and the UK met on...
TEDPIX Crosses 170,000 Threshold
Major Iranian stock indexes vaulted to fresh records on...
Iran: Possibility of Collusion in 2 Mobile Operators’ High Prices
Unifying their pricing systems, major mobile operators MTN-...
Iran Bans Tomato Exports Until Further Notice
The Ministry of Industries, Mining and Trade has banned the...

Add new comment

Read our comment policy before posting your viewpoints