Iran-China banking transactions to be simplified

Business Materials 27 December 2018 17:52 (UTC +04:00)

Baku, Azerbaijan, Dec. 27

By Elnur Baghishov - Trend:

Banking transactions between Iran and China will be simplified by the end of 2018, Vice-Chairman of Iran-China Chamber of Commerce Majidreza Hariri said in an interview with the Young Journalists Club (YJC), Trend reports.

He said that imports from Iran to China are about $10-12 billion a year.

The Bank of Kunlun is the only bank in China that transfers money to accounts of Iranian businessmen, he noted.

Earlier, Hariri said that the US imposed sanctions on the Bank of Kunlun because it worked with Iran during the previous period of US sanctions. China’s commercial banks have restrictions and they should operate according to the rules of FATF (Financial Action Task Force), he noted.

“If we face problems with FATF, our banking relations will also face problems,” he said.

He noted that about 15-20 tons of kiwi are harvested per hectare on average. Iran ranks fourth in world in terms of kiwi production.