The Central Insurance of Iran director stated that the recent measures taken by the EU against Iranian insurance companies are the same as those imposed in the past and they have devised ways to debilitate the restricting policies.
Javad Farshbaf-Maherian told IRNA news agency on Wednesday that these sanctions existed from before and would not affect the insurance industry, especially Iran Insurance Company.
He went on to say that with proper management each sanction and threat can be converted into an opportunity for growth and for this purpose the insurance industry in Iran has mobilized its entire prowess to reduce the possible impact of the financial limitations enforced on Iran.
Measures to diminish sanctions
Elsewhere, the Saderat Bank president said by the same token that EU sanctions are nothing new and will cause no hindrance in the bank's foreign activities.
The Mehr News Agency quoted Mohammad Jahromi as saying that financial restrictions on Iranian banks have been in effect for years now.
Jahromi explained the banks use extensive networks through their excellent professionals to counter the restrictions and have always succeeded in offering foreign currency services to their clients.
He pointed out that the limitations enforced on Iran by hostile banks in the EU will be balanced by making the most of banks outside of the EU.
The Iranian financier noted that not only will Saderat bank continue its activities, but also reinforce its efforts outside the Iranian borders.