Iran opens 244 brokerage connections, 744 LCs after sanction removal
Tehran, Iran, March 8
By Mehdi Sepahvand - Trend:
Since the Joint Comprehensive Plan of Action (JCPOA) entered into force and sanctions were lifted, Iran has opened 244 brokerage connections as well as 744 LCs, Central Bank of Iran President Valiollah Seif said.
Regarding concerns about the foreign banks' reestablishing relations with Iran in the post-sanction era, Seif said, "It is natural for European banks to face ambiguity for the very extensive brokerage network that they would find in Iran before the sanctions were imposed. That will slow down banking relations to some extent," IRNA news agency reported March 8.
"European banks are very eager to establish relations with Iran's banking system. However, some of them are still checking the situations. Banks are now connected to SWIFT, though," he asserted.
In recent days there has been much talk whether Iranian banks are really able to use international transactions, with contrary statements from the government and private sector, as well as media outlets affiliated to political rivals of the government.
Iran complained on March 5 that European banks and companies were too wary about renewing business ties and said it had asked the International Monetary Fund (IMF) to ease their concerns.
"There is still 'Iranophobia' in the banking sector that we are trying to overcome," Hamid Tehranfar, a vice governor of Iran's central bank, was earlier quoted as saying.
Iranian businessmen's efforts to quickly make deals with foreigners have been hampered in part by foreigners' reluctance.
In relevant statements, Tehran Stock Exchange (TSE) CEO Hassan Qalibaf said March 8 that in the current Iranian fiscal year (since March 21, 2015), 200 transaction codes have issued for foreign investors, a significant annual jump which has made foreign investment codes in the market reach 550.
With the successful implementation of the JCPOA, foreign investment on the market has reached 5.5 trillion rials ($181 million), he stated.
The TSE has experienced an uptrend since Jan. 16 when the removal of international sanctions created hopes for reaping profits from Iran.
Its main index surged by 352 points to hit 77,587 on Feb. 22, said the TSE on its website.
Some 318 companies, as well as 37 factories, are listed on TSE in 37 sectors, according to a TSE report released in November 2015.