Sina Linking Up With Foreign Banks

Sina Bank has established correspondent relations with 25 internationally recognized banks to benefit from their international experience and provide better services to customers, the bank’s website reported. According to data published by Sina, banking collaborations with renowned banks (including Russian Gazprom Bank, German Vorarlberger Landes, French Banque Delubac & CIE and the Chinese Bank of Gansu) are based on relationship management application. The lender now is ready to offer a wide range of banking services such as doling out loans, issuing letters of credit, extending foreign exchange guarantees and offering consultancy services to customers without incurring additional costs. SB has also announced plans to further expand its correspondent relations in the current Iranian year that ends on March 20, 2018. Founded in 1985, Sina Bank funds production, business and service units and provides credit to other economic sectors.