German Bank initiates Business with 20 Iranian Banks

The Director of Germany’s Europaeisch-Iranische Handelsbank AG (EIH) has announced that the bank has initiated business with 20 Iranian banks and financial institutes. and the prospect for improving EU trade relations is positive.

Thomas Junge told IRNA:

We have rebuilt our business relations with Iranian financial institute and cooperate with more than 20 banks. We are also advising letters of credit to customers all over Europe and not only Germany.

“The situation [regarding trade relations between Iran and the West] is improving since the implementation day. A lot of companies are eager to do business in Iran. I see a very good prospect for companies retuning to normalization of relationship with Iran.

He added that Iranian banks are now restarting their business with Europe:

They have done their homework, they are working based on all regulations and are getting to international standards to cooperate with major European banks.

(Source: Zawya)

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