Top European banks to establish brokerage ties with Iran

IRNA – Top European banks are maintaining baking relations with their Iranian counterparts in the post-JCPOA era, the managing director of Export Development Bank of Iran said on Sunday.

At the beginning of post-JCPOA era, only small and medium-sized European banks established ties with Iran but now big banks are also after maintaining relations with their Iranian counterparts, Ali Salehabadi said.

He pointed to Belgium’s KBC Bank (Private banking company) and Austrian Oberbank as examples of the pioneers to this end.

Export Development Bank of Iran has so far established brokerage relations with 124 foreign banks, Salehabadi added.

Improving brokerage banking ties are one the most important measures taken by 11th government after sign nuclear deal with P5+1 also known as Joint Comprehensive Plan of Action (JCPOA).

One of the JCPOA achievements was removing all regulations that obliged non-American banks to sever brokerage ties with Iranian banks.

Bank Melli Iran, Keshavarzi Bank, Bank of Industry and Mine, Export Development Bank of Iran, Bank Mellat, Tejarat Bank and Bank Maskan have established brokerage ties with foreign banks in post-JCPOA era.