Tag Archives | Middle East Bank

Italy, Iran sign Agreement for Investment in Iran

The Italian Minister of Economy and Finance, Pier Carlo Padoan, and the Deputy Minister for Economic Affairs and Finance of the Islamic Republic of Iran and President of the OTII (Organization for Investment, Economic and Technical Assistance of Iran), Mohammad Khazaee, welcomed the signing of the Master Credit Agreement, which took place today (Thursday) between […]

Half of Iran’s Banks should Close or Merge

By John Lee. Closures and mergers of Iranian banks will be needed to modernise an industry laden with toxic loans, according to one of the country’s top bankers. Reuters reports that Parviz Aghili [Parviz Aghili-Kermani], chief executive of Middle East Bank, estimated that a full re-organisation of the Iranian banking sector’s roughly $700 billion balance […]

Austria Signs Major Finance Deal with Iran

Austria’s Oberbank has signed a credit deal with Tehran to boost exports to Iran, the first European lender to do so since anti-Tehran sanctions were lifted following the 2015 nuclear deal between the Islamic Republic and world powers. Oberbank said the framework agreement will finance Austrian investment projects in Iran’s infrastructure, healthcare and plant construction […]

3 Iranian Banks to Open Branches in Munich

The Minister for Economic Affairs, Media, Energy and Technology of Germany’s Bavaria State said three Iranian banks plan to open branches in Munich to help boost business ties with German firms. Ilse Aigner said Middle East Bank, Parsian Bank and Sina Bank have received approval from the Central Bank of Iran (CBI) to set up […]