Europe-Iran Bank (Eihbank) resumes activities

Berlin, March 3, IRNA – The first German bank resumed its activities in Iran, the German NTV announced here Thursday.

The commercial bank of Europe and Iran, Eihbank, with its headquarter in Hamburg has resumed its activities, including money transfers and payments, with Iran following the normalization of relations between Tehran and European capitals and implementation of Joint Comprehensive Plan of Action (JCPOA) between Iran and P5+1.

Eihbank began its activities on Tuesday last week, said the report. It works under Germany’s banking license while it was in Germany’s banking sanctions list for five years and its assets had been blocked. It has been reconnected to the SWIFT system since mid-February and resumed its activities.

The TV Channel Network also reported that German Vice-Chancellor and Federal Minister of Economic Affairs Sigmar Gabriel has recently intensified his efforts to convince German banks and financial institutes to resume their activities in Iran.

He has also dispatched his deputy Matthias Machnig to negotiate with representatives of German banks, the report added.

The German deputy economic minister will take part in an economic-financial conference in Tehran this weekend, NTV Channel Network said.