Our Currency Transfers Exceed €20 billion / Our Banking Transactions with Neighbors is Satisfying- Especially with Iraq

Wednesday, October 11, 2017
Managing Director of Bank Melli Iran said;" For the past year, BMI money transfers and LC opening exceeded to a considerable and rising amount, €20 billion."

Mohammad Reza Hoseinzadeh, Managing Director of BMI in an interview with Alalam said;" Before JCPOA be implemented and during the sanction era the international activities of almost all Iranian banks including Bank Melli Iran except of a number of small banks were stopped. "

He stated;" At that time, we approximately had no relations with the banks of the world, but now, in post sanction era, our international banking network is expanded. We have a lot of branches abroad moreover we've inked MOUs on correspondent relationships with 150 foreign countries."

Managing Director of BMI added;" For the past year, BMI money transfers and LC opening exceeded to a considerable and rising amount, €20 billion. By continuing this trend and inking new MOUs with new banks, we keep extending our activities even more in coming days."

Hoseinzadeh continued;" BMI's acted impressively to attract foreign investment and it has recently signed co-op MOUs and credit lines with different banks including a €8 billion deal with Korean banks, a €25 billion deal with Chinese banks and a €1,500 billion with Danish and Austrian banks."

He clarified;" It's a good opportunity for domestic investors to deliver their projects to the government. We are ready to consider the projects and exploit the attracted investments on different areas of water, power plants, petrochemicals and refinery to move towards development, job creation and production."

Managing Director of BMI said;" We've established correspondent relations with almost the majority of European countries as Germany, Austria, Italy, Spain, Russia and powerful Asian countries like Japan, Korea, Turkey, China – It's rather to say all countries except of US and Israel."

He continued his saying;" Bank Melli Iran is experienced and established. It's known all over the world. Some governments insist us to open branches in their countries that's within Iran's government authorities. BMI branches in Germany, France, England, Russia, Arabic countries and also Hong Kong 've restarted their activities and they are going to expand their services too."

Answering Alalam's inquiry about market turbulence, Hoseinzadeh replied;" The government and Central Bank of Iran are going to keep foreign exchange rate stable."

He pointed out to Iran's neighbors and stated that a good ground has been created for cooperation with Iraq at the present time. We had branches in Baghdad and Basreh, lately launched a branch in Najaf and we plan to open one in Karbala. Our interaction with Iraq is satisfying and Preliminaries are being done to convert BMI branches in Iraq to an independent unit under regulations of Central Bank of Iraq which is helpful for both sides. This measure is taken to ease concerns of exporters and importers and even to provide switching debit cards for pilgrims of both countries. We held banking licenses in Arbil and Sleimanieh that are now cancelled thanks to current happenings.

He reiterated;" We grant loans to the Iraqis. The salary of oil industry or petrochemical employees is paid in BMI branches like Basreh branch and finally there is a mutual cooperation between the two parties."

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