MNA– Governor of the Central Bank of Iran (CBI) Valiollah Seif revealed the implementation of monetary treaties with the countries including Iraq, Russia and Republic of Azerbaijan.

Turning to the situation of monetary treaties, he said, “we are fully aware of the bilateral and multilateral monetary treaties and in this regard, monetary treaties have been inked with some countries in the world.”

Chairman of Money and Credit Council (MCC) reiterated, “a model which is implemented in the world with regard to the monetary treaties does not create a space for entire business operations, so that fulfilling this important issue does not solve all the problems.”

Governor of the Central Bank of Iran (CBI) Valiollah Seif added, “bilateral monetary treaties between Iran and Turkey have been put into operation. In this regard, a number of Letters of Credit (L/Cs) have been opened and the issue of conclusion of monetary treaties will be pursued with the countries of Iraq, Russia and Republic of Azerbaijan.”