Tehran, Iran, July 17
Trend:
Iran's Tejarat Bank is ready to support knowledge-based companies by providing letter of credit (LC), as well as rials and foreign currency guarantees, said the CEO of Tejarat Bank.
"Tejarat Bank signed an agreement with Iran's National Innovation Fund to provide bank advances and other services including domestic and foreign LCs, also for the knowledge-based companies," said Reza Doulatabadi, Trend reports citing IRNA.
"The domestic LC is a good tool for the companies to improve their trade targets, therefore knowledge-based companies can buy equipment and raw materials, and bank would pay for it," he noted.
"A special team from Tejarat Bank would review the documents the companies in an office at the National Innovation Fund while 1,500 branches of the bank will provide services to knowledge-based companies," he added.
"Tejarat Bank office would offer consultant services, and introduce them to its branches for bank advances," he said.
"The bank would be linked to other fields including insurance companies and foreign exchange offices to make necessary coordination to aid the knowledge-based companies," he added.