Austrian insurer increases coverage for exports to Iran

Business Materials 28 September 2016 15:14 (UTC +04:00)

Baku, Azerbaijan, Sept. 28

By Fatih Karimov – Trend:

Austria’s official export guarantee agency Oesterreichische Kontrollbank AG (OeKB) has increased its coverage value for exports to Iran, Austrian Minister for Finance Hans Jörg Schelling said.

He made the remarks during a meeting with Valiollah Seif, head of Iran’s Central Bank (CBI) in Vienna, the CBI reported Sept. 28.

“The Austrian export guarantee agency, which provides services for exports and foreign investment, has raised its insurance cover for exports to Iran from 280 million euros to 1 billion euros,” Schelling said.

He further expressed Vienna’s readiness to remove obstacles on banking ties between the two countries.

Schelling called for more cooperation for establishing brokerage ties between Iranian and Austrian banks.

Seif, heading a high-ranking economic delegation, arrived in Vienna on Sept. 26 to discuss bilateral ties and banking issues with Austrian officials.

He paid a visit to Joint Vienna Institute (JVI) on Sept. 27, a regional training center which offers courses, seminars and workshops on macroeconomic policy formulation and management, monetary policy and financial sector, primarily for public sector officials from countries in Central, Eastern and Southeastern Europe as well as the Caucasus and Central Asia.

Seif told Islamic Republic News Agency that Austrian Central Bank has activated Iran's Central Bank account again.