Economy, Business And Markets

Bank Saderat Iran Working to Resolve Qatar Issues

Bank Saderat Iran Working to Resolve Qatar Issues
Bank Saderat Iran Working to Resolve Qatar Issues

Bank Saderat Iran is working to enhance operations of its branch in Doha to help remove banking problems facing Iranian exporters in Qatar, according to its chief executive.

“I can tell the exporters that we have reached agreements and effective steps have been taken to resolve their banking problems,” Siavash Zera’ati also told IBENA.

The BSI chief noted that his bank has held negotiations with Iranian businessmen and exporters along with Qatari officials to remove any hurdles, adding that “banking issues are being dealt with”.

At present, the BSI is the only Iranian lender with a branch in Qatar though it has faced problems working with its counterparts in the region as a result of issues related to Financial Action Task Force regulations and a number of regional policies.

A number of Iranian private lenders have reportedly started negotiations to expand ties with Qatari banks.

Earlier in August, The governor of the Central Bank of Iran also said that negotiations are underway to link Iran and Qatar bank cards. No details have been released.

Iranian businesses, especially in the food sector have been striving to expand ties with the Qataris following the rift engineered by the regime in Saudi Arabia.

Iran exported $67.5 million worth of non-oil goods to Qatar during the five months to August 22, registering 60.57% growth compared to the same period last year. However, lack of a timely and efficient roadmap for boosting export and transportation links, and banking limitations are among the impediments to increasing exports to the Arab neighbor.

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