Int’l Banking Ties Depend on Europe Talks Outcome

Iran’s banking sector is pressing ahead with overseas business despite the shadow of sanctions’ revival looming over it, after the US unilaterally withdrew from the 2015 nuclear deal early this month, Bank Mellat CEO Mohammad Bigdeli said.
“Iran’s banking relations [with the world] and the operations of Iranian banks’ foreign branches are facing no particular problem after the US quit JCPOA,” Bigdeli said, while acknowledging that the prospects were bleak, IBENA reported on Wednesday.
“We are likely to face more problems in this regard in the coming months,” he added.
The CEO was using an abbreviation that stands for the Joint Comprehensive Plan of Action, the formal name of the multilateral agreement.
Bigdeli said the fate of Iran’s international banking relations are tied to the outcome of the negotiations underway with the European side.