Iranian banks to return to world markets

TEHRAN, Nov. 19 (MNA) – Iran has a banking relationship with 27 Germans banks, the Governor of the Central Bank of Iran(CBI) Valiollah Seif said.

Seif made the remarks at an international investment conference on Iran in Frankfurt.

He stressed that the main focus of CBI is to return Iranian banking systems to the world’s financial markets, especially restoring ties between Iranian and European banks.

In the post sanction era, Iran tends to expand its banking ties in international levels, he said and added “we believe that short-term interactions between Iran and its foreign partners are not beneficial and a long-term outlook is essential for investment in Iran’s banking sector.”

Iran’s nuclear deal created a positive outlook among international companies tenting to invest in Iran, he noted.

International investors, presently, are allowed to have a 100 percent share at banks located in a free-zone and 40 percent in mainland, he said and added “Iran will boost cooperation to establish cross-border joint bank ventures”.

He noted that Iran has a banking relationship with 27 Germans banks.

CBI has initiated reforms for financial stability, effectiveness of monetary policy and efficient allocation of resources in the banking sector, Seif added.

The government remains committed to a more disciplined and transparent fiscal and monetary policy to help economic growth and controlling high inflation, he said.

Seif is in Germany to attend the 18th Euro Finance Week in Frankfurt.

By Mehr News Agency