Pointing to the importance of re-licensing Rome branch of Bank Sepah, Cheghazardi said, “according to the decree of the Council of European Union, restrictions caused by UN sanctions in 2007 on Bank Sepah and Bank Sepah International PLC in Rome has been removed, so that respected banks are allowed to resume banking activities in the european country.”
The director said issuance of license provides better conditions for more effective presence and activities of Bank Sepah in the international arena and offers various portfolio of foreign currency services, including the opening of letters of credit for customers.
He noted the issues were resolved following the visit of President Rouhani to Italy in January, negotiations over the resolution of banking issues, as well as the efforts by Sepah Bank officials and Iranian Central Bank.
Chaghazardi said Bank Sepah is the only Iranian bank in Rome, Italy, and before sanctions, many trade and banking transactions were done through Bank Sepah branch in Rome.
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