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Bank of China Discussing Operation in Iran

Bank of China Discussing Operation in Iran

Written By : mehrdadk
Reading time : 1 minutes

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cbi-and-bc-meeting-nov-2016

Bank of China Discussing Operation in Iran: In a meeting with Valiollah Seif, the Governor of the Central Bank of Iran (CBI) , the president of the Bank of China (BOC) expressed his Bank’s desire to operate in Iran.

According to the news published by media, during this meeting, Valiollah Seif addressed Chen Siqing, President of the Bank of China and said, “Iran has had deep and long-term relations with China and always considers it as a strategic partner”.

CBI Governor mentioned the last trip of president of People’s Republic of China to Iran and said:” Expansion of economic co operations was emphasized during his visit and to do so, we have to expand our banking relations first.”

“Since the implementation of JCPOA, the members of P5+1 have focused on increasing economic ties with Iran and tend to utilize its investment capacities in order to be present in the regional market. However, the US government, being deprived of the profits of expansion of economic ties with Iran, always tries to interfere and impedes them”, said Seif criticizing US for its inconsistent and unreliable behavior.

He continued:”Among P5+1, China has the most ties with us and is well familiar with Iranian market.”

“A representative office located in Iran can gather detailed and accurate information on possible risks in Iranian economy and market.” Seif said regarding the important role of representative offices in Iran.

CBI Governor pointed to Iran’s incoming foreign currencies and said: “Given the fact that we avoid US Dollar in our international transactions with China or other countries, we use the currency of the country to which our oil as well as non-oil products are exported. We receive the surplus in a third currency which is usually Euro.”

Dr. Seif believes that financial support of active Chinese companies in Iran depends on appropriate correspondence relations.” In order to start our co operation with the Bank of China, I suggest that the central and state-owned banks of Iran open their own correspondence accounts in Bank of China” Seif added.

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