Three Iranian banks to open branches in Germany
Three Iranian banks namely Middle East Bank, Saman Bank and Sina Bank are planning to open branches in German cities to increase Iran's trade relations with Europe, according to Iran's ambassador to Germany.
April 29, 2018 - Speaking at the Sixth Iran-Europe Banking and Business Forum in Tehran, Ali Majedi said that Middle East Bank planned to open a branch in the German city of Hamburg, Saman Bank has targeted Frankfurt, while Sina Bank has not made a final decision on the location of its branch, Mehr News Agency reported.
Majedi added that after the implementation of Joint Comprehensive Plan of Action (JCPOA) and before the Iranian private banks plan to open their branches in Europe, Bank Melli Iran branch in Hamburg and Bank Sepah branch in Frankfurt along with Iran-Europe bank have played a major role in conducting transactions between Iran and Europe.
He pointed out that Iran-Germany trade last year stood at $ 3.4 billion, adding that since March 21, trade between the two countries witnessed a 12.5-percent growth.
On the sidelines of the second day of the aforementioned event, German Ambassador to Iran Michael Klor-Berchtold said that Iran-Europe trade relations has increased 10 times since the JCPOA came into force.
The German ambassador said that if Iran fully rejoins the global economy and if its ranking in Financial Action Task Force (FATF) improves, it will benefit much more from the JCPOA.
He underlined that Germany takes the JCPOA seriously and will remain committed to it in order to play a more active and constructive role in future Iran-EU relations.