Baku, Azerbaijan, Nov. 22
By Khalid Kazimov – Trend:
Iran has established correspondent relations with 230 foreign banks since January 16 when the Joint Comprehensive Plan of Action (JCPOA/nuclear deal) was implemented, a financial official has said.
Gholamali Kamyab, vice governor of Central Bank of Iran for foreign exchange affairs, said that Iran managed to build up trust in a short period of time following the implementation of the JCPOA, Mehr news agency reported Nov. 22.
He made the remarks in a joint meeting between banks from Iran and Afghanistan.
Kamyab added that Iranian banks opened $17 billion worth of letters of credit over the first seven months of the current Iranian calendar year (started March 20).
Although the nuclear related sanctions on Iran were lifted following the implementation of the Joint Comprehensive Plan of Action on January 16, Iran still has difficulty in establishing banking ties with leading European banks as they are worried about running afoul of US regulations.