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3 Iranian banks to open branches in Germany: Envoy

Tehran, In order to facilitate trade exchanges with foreign partners, especially Europe, three Iranian banks of Middle East Bank, Saman Bank and Sina Bank are to open branches in Germany.

Iranian ambassador to Germany Ali Majedi made the remarks in an interview with the Islamic Republic News Agency (IRNA) on the sidelines of Iran-Europe trade conference.

After the implementation of Iran nuclear deal also known as Joint Comprehensive Plan of Action (JCPOA), Bank Melli in Hamburg and Bank Sepah in Frankfurt have become active in foreign trade and currency operations, he said.

Iran-Europe trade bank is also active in Iran's currency exchanges in post-JCPOA era, he added.

Iran-Germany trade ties level was $3.4b last year, Majedi said, adding that the figure experienced 12.5% growth in the first two months of the current Iranian calendar year (started on March 21)

According to customs reports, Germany has exported over $3.8b products to Iran and ranked 5th among top exporters to Iran.

Meanwhile, German ambassador to Iran Michael Klor Berchtold said Iran exports to Germany increased 10-fold and Europe exports to Iran had 60% growth in post-sanction era.

Iran's joining to world economy requires improving Tehran position in Financial Action Task Force on Money-Laundering (FATF), he added.

He also urged Iranian banks to follow standards regarding financial transparency for investors to trust more.

Germany takes Iran nuclear deal seriously and tries play constructive and active role between Iran and the European Union to comply with JCPOA.

Source: Islamic Republic News Agency - IRNA


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