Bank of China seeks to launch branch in Iran

Business Materials 31 October 2016 15:39 (UTC +04:00)

Baku, Azerbaijan, Oct. 31

By Khalid Kazimov – Trend:

Head of Bank of China, Chen Siqing has expressed interest in doing business in Iran.

“Iran and China enjoy strategic and long term ties. Iran considers China as its strategic partner in all areas,” Siqing said at a meeting with the governor of the Central Bank of Iran (CBI), Valiollah Seif, in Tehran.

Chen Siqing added that Bank of China in the current phase is seeking to open a representative office in Tehran, and the office will then establish a branch, the CBI official website reported Oct. 31.

In turn, Valiollah Seif touched upon the two countries’ intention to broaden economic and trade ties, saying the expansion of banking ties is a prerequisite for deepening the relations.

He also called for opening correspondent accounts of Iranian banks in the Bank of China, suggesting this will pave the way for Chinese companies involved in business in Iran.