EDBI hold broker relations with 105 banks

TEHRAN, Nov. 22 (MNA) – Export Development Bank of Iran (EDBI) managed to launch broker ties with 105 banks in 42 countries by the end of October, 2016.

As reported by Iran's Ministry of Economic Affairs and Finance, the Export Development Bank of Iran (EDBI), upon expansion of its cross-border activities, has begun brokerage relations with numerous banks around the world.

The latest status of EDBI, as Iran's Export-Import Bank, reveals that brokerage ties have been formed with a total of 64 banks in 20 European countries, 36 banks in 17 Asian states, four banks in Africa as well as one bank in Latin America.

As regards allocation of foreign exchange, presently currency exchanges are being carried out in countries like China, South Korea, India, Oman, Qatar and Turkey via currencies such as euro, yuan, won, rupiah, Omani rials, Japanese yen and Turkish lira.

In Europe, meanwhile, euro and Swiss franc remain as tradable currencies in Germany, Austria, Italy, Belgium, Switzerland and France.

A survey of available data indicates that SWIFT relations of EDBI have become activated with certain target banks worldwide while a number of other institution are exchanging documents and yet in some other banks accounts have been opened in order to launch brokerage relations.

HA/3830286

News Code 121508

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