Tehran, Baghdad Keen to Expand Monetary, Banking Ties: Official
TEHRAN (Tasnim) – The chairman of the Iran-Iraq Joint Chamber of Commerce said banking officials from the two countries are keen to expand the monetary and banking relations.
There is not any problem in the field of banking and monetary interactions between Iran and Iraq, Yahya Al-e Es’haq said, adding that the two sides are pursuing the implementation of the agreements previously inked by the two central banks.
Referring to the suspension of the activity of Bank Melli Iran (BMI) in Iraq by the central bank of the Arab country, the official said a number of Iranian banks had been authorized to be active in this Arab country but a recent decision came due to the sanctions imposed by the United States.
Recently, however, the Central Bank of Iraq has announced that the activity of Bank Melli Iran will continue in this country, Al-e Es’haq added.
He put the current value of the annual trade exchanges between Iran and Iraq at about $10 billion, adding that the two countries have a high potential to enhance bilateral trade.
Iran and Iraq are interested in boosting mutual banking, monetary and trade ties, so the economic officials of the two countries should roll up their sleeves in order to spur trade and economic activities, he stated.