TEHRAN (Tasnim) – Central Bank of Iran (CBI) Chief Valiollah Seif, who is in Southeast Asia on an official visit, said Tehran and Kuala Lumpur are resolved to promote mutual cooperation in the area of Islamic banking.

“Malaysia is among the leading countries in Islamic banking and its banking system has made noticeable progress in the area,” said Seif, who accompanied President Hassan Rouhani in his trip to the Southeast Asian country.

He further praised the “good” relations between Iran and Malaysia but regretted that while the two countries used to enjoy close trade ties in the past, the level of bilateral trade decreased after economic sanctions were imposed against the Islamic Republic.

The Iranian official expressed the hope that the trip to Malaysia and holding talks with its officials would be a milestone in relations between Tehran and Kuala Lumpur.

Heading a high-ranking political and business team, president Rouhani embarked on a tour of Southeast Asia on Wednesday that took him to Vietnam, Malaysia and Thailand.

By Tasnim News Agency