Iran, Europe to open joint bank

TEHRAN, Mar. 07 (MNA) – A senior banking director has reported on establishment of an Iranian-European bank with three members of Iran and four from Europe serving on the management board.

Ahmad Haji Mohammadi, Manager of International Affairs of Sarmeye Bank, said international monetary institutions had evaluated Iranian banks in terms of transparency and efficiency; “agreements have been reached to launch an Iranian-European bank in one of EU countries with Iran and Europe enjoying 47 and 53 per cent of the shares respectively.

Emphasizing the need for Iranian financial institutions to bolster relations with European countries, the official added “as such, the board of directors for the new bank comprises seven people, three Iranian members and four from Europe.”

The bank will be established in Europe early into the upcoming Iranian calendar year (to begin March 20), he added.

Haji Mohammadi said three directors had been introduced by the Iranian part though they had to receive approval from the central bank of the destination country.

“Iran’s share in the bank will be paid once it is launched as well as that the initial legal deposit will be funded by partners though Iran will be required to settle the amount in future,” underlined the senior banking director.

The official said Sarmeye Bank had never been boycotted and had always enjoyed access to SWIFT system event in times of sanctions; “globally speaking, the Iranian bank had been always deemed as transparent as evidenced by the exchange of information conducted with European partners.”

In view of good conditions, Haji Mohammadi said, we accepted the proposal of a European bank for establishment of a joint bank though necessary permits have been received from the Central Bank of Iran (CBI).

On buying shares of European banks, the official said “we hold the intention to buy shares of an EU bank which has been put on sale though the purchase has not been finalized yet.”


News Code 124045


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