CBI governor agrees with Singapore Dy PM on direct banking ties

Kuala Lumpur, Oct 25, IRNA – Governor of Central Bank of Iran (CBI) Valiollah Seif met with Singapore Deputy Prime Minister and Minister of Coordination of Economic Affairs Tharman Shanmugaratnam on Tuesday and reached agreement to begin a new chapter of banking activities.

In the meeting, which Iran’s Ambassador to Singapore Javad Ansari and a banking delegation from Iran were present, Seif explained existing capacities for expansion of trade and economic relations between the two countries.

He underlined banking cooperation as a prelude for development of economic ties.

Seif said that in case of interest of Singaporean bankers to visit Iran, CBI is ready to help them get familiarized with the latest banking achievements of Iran and remove possible ambiguities about business with Iranian banks.

He invited the Singapore deputy prime minister to visit Tehran and called on Singaporean government to support development of banking cooperation between the two countries.

Shanmugaratnam appreciated Seif for accepting his invitation to visit Singapore and expressed pleasure with outcome of negotiations between the Iranian delegation and Singaporean bankers.

He also underlined necessity for expansion of economic and trade ties between Iran and Singapore in post-sanctions era.

Seif also met with Singapore Central Bank Governor Ravi Menon on Tuesday morning and reached agreement on development of banking cooperation.

In a meeting with senior directors of large Singaporean banks; DBS, OCBC, BTMU and UOB as well as chairman of Singapore banks association, Seif introduced capacities of Iranian banking networks.

He is to deliver speech in first meeting on ‘Investment in Iran’ on Wednesday.