Iran, Russia Ink Banking MoU

Iran and Russia have signed an MoU on banking cooperation, covering such areas as anti-money-laundering (AML), CFT, bilateral monetary treaties and settlements in national currencies.

The document was signed by Mr Kamiab, vice governor of foreign exchange affairs from the Central Bank of Iran (CBI) and Dmitry Skobelkin, Deputy Governor of the Central Bank of Russian Federation.

According to CBI PR dept, this MoU was signed on the sidelines of the 4th Meeting of the Financial and Banking Cooperation Working Group between the banking systems of Iran and Russia which was held in CBI with the presence of both Iranian and Russian central bank representatives.

Kamiab asked for the removal of barriers to expand of banking ties and said:

“In this regard, measures taken are not enough. It is expected that these negotiations ease transfers. Also conditions of opening accounts at the two parties’ banks have to be reviewed”.

Kamiab referred to the quality of Iranian national banking cards switch, adding:

Iranian experts designed and implemented the national banking cards switch which is in conformity with international protocols and standards and its international connection is within the framework of our general policies in central bank. So our experts can begin the technical negotiations.

“The Russian Federation is one of our most reliable partners in various fields, and undoubtedly, the realization of these goals will deepen trade ties between us.

(Source: CBI)

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