Austria’s RBI aims to be leading bank in Iran

Austria’s RBI aims to be leading bank in Iran

Baku, Azerbaijan, Feb. 5

By Farhad Daneshvar - Trend:

Austria's Raiffeisen Bank International (RBI), plans to become a leading bank in Iran following the removal of international sanctions against Tehran over its nuclear program, an official with the RBI told Trend.

"Raiffeisen Bank International aims at being the leading bank when it comes to Iranian business again," RBI corporate spokeswoman Ingrid Krenn-Ditz said.

"We are looking to support our corporate clients with non-sanctioned trade related banking business," she added.

She further denied that the company aims to establish
a branch in Iran adding that opening a representative office is on agenda.

"We are not aiming at opening a branch in Iran - but rather a representative office supporting our multinational and corporate customers exporting to or operating in Iran," she said.

"It is further not planned to offer retail banking in Iran. As Iran was excluded from the international markets for many years, we see huge potential to catch up with the international development," the spokesperson added.

RBI representative also said that her bank is preparing negotiations and talks with relevant Iranian authorities at the moment. However, she refused to provide further details.

Since March 2012, as part of measures taken in a bid to intensify the sanctions on Tehran due to its nuclear program, several restrictions have been imposed against Iran's banking system, which had a catastrophic impact on Iran's economy.

In a joint statement on Jan. 16, the EU High Representative Federica Mogherini and Iran's Foreign Minister Mohammad Javad Zarif announced the implementation of the JCPOA, aka nuclear deal, and the removal of economic sanctions on Iran. According to the statement, EU confirmed that legal framework, providing for lifting of its nuclear-related economic and financial sanctions, is effective.

Following the implementation statement, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced that those banks that are de-listed by the Implementing Regulation will now automatically be able to reconnect to SWIFT.

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