Baku, Azerbaijan, Feb. 14
By Fatih Karimov – Trend:
The Central Bank of Iran (CBI) and Japan’s Financial Services Agency (FSA) have signed an Exchange of Letters (EoL) for cooperation in
banking sector.
The deal aims to facilitate presence of Japanese bank in Iran and vice versa, the CBI said Feb. 14.
EoL is a formal agreement or contract between two or more states, such as an alliance or trade arrangement.
Under the deal, the two parties will also develop cooperation in banking supervision.
Farshad Heidari, the CBI's deputy for supervisory affairs, said on the sidelines of the signing ceremony that Iranian banks are ready to
establish brokerage relationships with Japanese banks and open branches in Japan.
He further said that presence of Japanese banks in Iran will facilitate Japan’s access to Iran’s 80-million market as well as regional markets
in Central Asia and Caucasus.
During the ceremony Masato Kanda, deputy commissioner for International Affairs of the FSA, said that signing the EoL will prepare ground for
exchange of knowledge and experiences and signing a MoU in banking supervision.
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