Iranian bank says it established good ties with foreign banks(exclusive)

Business Materials 6 September 2017 14:42 (UTC +04:00)

Tehran, Iran, September 6

By Mehdi Sepahvand –- Trend:

Iran’s Tose’e Ta’avon Bank (aka TT Bank, bank of cooperative development) has succeeded in establishing brokerage relations with foreign banks, the bank’s CEO Hojatollah Mehdian said.

“Our bank has established ties with 19 banks in 12 Asian and European countries and has developed its exchange transactions,” Hojatollah Mehdian told Trend September 6.

Stressing the necessity of investment in the post-JCPOA Iran, Mehdian said the Iranian government’s move to reduce banking interest rates will lead to more investment.

According to a May report, TT Bank is among one of 20 Iranian banks that can directly transfer money with the Italian bank Banca Popolare di Sondrio.

The bank is also offering low-interest loans to residents of rural and deprived regions to encourage them to initiate new development projects as part of a 120,000 billion rials ($3.13 billion) plan.