News ID: 209799
Published: 0334 GMT February 11, 2018

CBI opens accounts in six more foreign banks

CBI opens accounts in six more foreign banks

The Central Bank of Iran (CBI) has in recent months opened accounts in banks in Oman, Russia, Austria, Qatar and Switzerland as well as the Frankfurt branch of Sepah Bank of Iran.

On the 39th anniversary of the victory of Iran's 1979 Islamic Revolution, the CBI released a report on its achievements and said the accounts were opened in Sohar Bank of Oman, Russian VTB, the Frankfurt branch of Sepah Bank of Iran, the RBI of Austria, Qatar National Bank (QNB) and Swiss Gazprombank Group, IRNA reported.

Moreover, from January 2016, when the JCPOA was implemented, to January 20, 2018, some 818 brokerage relationships were established with 284 foreign banks to facilitate banking and commercial relations.

Among measures taken by the CBI in that connection were the signing of an agreement with Turkey to swap rial with lira. Based on the agreement, the two sides provided each other with credit: five billion liras in credit and an equal amount of credit in rial. The sum was to be spent to finance trade and investment in either country.

An agreement by the Bank of Industry and Mine of Iran and China EximBank for financing the electrification project of Tehran-Mashhad railway line at a cost of 11.5 billion yuans (about $1.7 billion), the €8-billion agreement signed by South Korea EximBank and 12 Iranian banks, and the inking of a $10-billion credit line agreement between the consortium of Chinese banks, representing citik Trust, and five Iranian banks, were among other achievements of the CBI in recent months.

   
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