Iran’s Melli bank PLC resumes work in London: Official

Tehran, January 26, The Iran Project – Managing Director of Iran’s Melli bank has said that Melli bank PLC resumed its work in London.

Speaking to a reporter on Tuesday, Managing Director of Iran’s Melli bank, Abdolnaser Hemmati announced that Melli bank PLC receiving its license from the supervisory and control institutions of England bank system can resume its work in London.

Melli bank PLC is an independent bank that 100% of its shares owned by Iran’s Melli Bank, Hemmati said.

Melli Bank has 17 branches overseas that are ready to provide services, he said, adding that they are going to be expanded gradually.

Speaking about foreign currency activities of Melli bank, he stated that in the past, international and foreign currency activities had an important role on the loss and profit of the bank.

Sanctions imposed over Iran’s peaceful nuclear program restricted financial transfers of Iran’s bank, but when they are lifted following confirmation of Tehran’s commitment to​ the Joint Comprehensive Plan of Action by the International Atomic Energy Agency, the sanctions imposed on 12 Iranian banks abroad were removed.