Banking officials from Iran and Bahrain started negotiations regarding the release of the blocked assets of the Central Bank of the Islamic Republic of Iran and other Iranian banks in Bahrain.

According to The Iran Project, the deputy governor of the Central Bank of Iran (CBI) for international affairs and his Bahraini counterpart kicked off negotiations on the release of the frozen assets of the CBI and other Iranian banks in Bahrain and it was agreed that this process would continue. 

Following the expert-level talks made on the sidelines of the 50th Annual meeting of the Islamic Development Bank (IDB) in Saudi Arabia’s capital of Riyadh with the banking officials of the Central Bank of Bahrain, constructive talks were held in Bahrain between the deputy Central Bank of Iran for the international affairs and the deputy governor of the Central Bank of Bahrain prior to the visit of the foreign minister of Bahrain to Tehran.

During the negotiations, the two sides emphasized releasing the foreign exchange reserves of Iran in Bahrain based on the principle of mutual respect.

The two sides submitted solutions for the removal of the available barriers and expressed hope that good news will be released in the near future regarding the release of the frozen Iranian assets in this Arab country, the CBI said.