Iran, S Africa to uplift banking ties

TEHRAN, Apr. 25 (MNA) – CBI governor has urged South African banks to launch banking cooperation with Iran as well as to open mutual accounts.

During a meeting with the South African Minister of Finance Pravin Gordhan, the Governor of Central Bank of Iran (CBI) Valiollah Seif said sanctions against Iran currently cause no restrictions on banking cooperation with other countries except for the US; “as a result of the deal between Iran and the 5+1 group of countries, all nuclear-related sanctions have been removed while the remaining ones do not pertain to the nuclear negotiations.”

“Iran and South Africa used to have positive banking ties prior to sanction years,” noted Seif asserting “a halt occurred in the relations between the two countries which demands further effort.”

The official pointed out the high potentials of economic cooperation between the two sides though boosting of banking ties and provision of facilities for economic activities remain as momentous preconditions to this end.

“We deem South Africa as the center of Africa as it can mark Iran’s entry point to launch banking relations with the whole continent,” highlighted CBI governor adding “the ground is set for joint investment between Iran and South Africa.”

“Iranian banks can easily gain access to SWIFT and broker relations have been established with small foreign banks,” highlighted the Iranian official commenting “some big banks are still doubtful about boosting ties with Iranian counterparts though the issue will be resolved through negotiation.”

Seif further pointed to the passing of law of Combating the Financing of Terrorism (CFT) asserting “constructive measures have been taken as the views of Iranian experts on CFT have been warmly received in Paris and Rome as well as by the US Secretary of the Treasury Jack Lew.”

South African Minister of Finance Pravin Gordhan, for his part, congratulated Iran on reaching an agreement with the 5+1 group expressing hope that economic relations between the two countries will get back to normal conditions leading to escalation of investments.”

“Iran is located at heart of the region offering numerous opportunities,” emphasized the Gordhan calling for appropriate banking channels between the two sides.”

“Banking Association of South Africa represents all the banks in our country and their representatives will be encouraged to visit Iran in order to initiate direct banking ties between the two countries,” concluded the South African official.

By Mehr News Agency