Iran-Russia banking relation is at its best: Official

August 7, The Iran Project – Tehran-Moscow’s banking relationship is now at its best conditions, says Executive Director of Iran’s Export Development Bank on Monday.  

Referring to the recent visit of the Iranian Banking delegation to Russia, Ali Saleh Abadi stressed the willingness of Russian famous banks to expand their banking relations with Export Development Bank of Iran.

Saleh Abadi also announced that Iran’s SHETAB system (Interbank Information Transfer Network) will soon be connected to Russian national payment system called Mir, saying this can be an important step in facilitating trade and cultural relations, especially in the field of tourism services.

Central Bank of Iran (CBI) had announced in mid-May that Iran and Russia have agreed to integrate their bank card systems, and “Iranian citizens who have a Shetab [Iran’s national payment system] card and those who have Russian [Mir] card will be able to use ATMs in both countries by the end of August 22.

Iran and Russia are also preparing to trade with their national currencies (Rubles and rials), he added.

He referred to facilitating transfers and services in Russia, communicating with merchants, and the way of receiving and providing credit lines as the significant issues to further improve the two countries’ banking relations.