AFP, Tehran :
Two private Iranian banks will open branches in Munich, officials confirmed Monday, as the Islamic republic looks for ways around ongoing barriers to international financing.
The central bank announced late on Sunday that Middle East Bank and Sina Bank would set up in Germany’s Bavaria state, following a visit by local economy minister Ilse Aigner to Tehran.
“This is a first since the revolution of 1979. We hope to open our branch by the end of 2016,” Parviz Aghili, director general of Middle East Bank, told AFP. Iran’s central bank is also now working with its German counterpart and several banks in the country to settle oil exports in euros.
“The central bank is focused on developing banking relations with other countries,” said Akbar Komeijani, vice president of the central bank, in a statement on its website.
Two private Iranian banks will open branches in Munich, officials confirmed Monday, as the Islamic republic looks for ways around ongoing barriers to international financing.
The central bank announced late on Sunday that Middle East Bank and Sina Bank would set up in Germany’s Bavaria state, following a visit by local economy minister Ilse Aigner to Tehran.
“This is a first since the revolution of 1979. We hope to open our branch by the end of 2016,” Parviz Aghili, director general of Middle East Bank, told AFP. Iran’s central bank is also now working with its German counterpart and several banks in the country to settle oil exports in euros.
“The central bank is focused on developing banking relations with other countries,” said Akbar Komeijani, vice president of the central bank, in a statement on its website.
