Iran, Russia ink MoU on insurance services
Tehran, Iran, July 4
By A. Shirazi - Trend:
The Central Insurance of Iran and Russian National Reinsurance signed a memorandum of understanding (MoU) to boost cooperation between the two countries in various fields of insurance.
The cooperation document was signed in Tehran in Wednesday meeting attended by Head of the Central Insurance of Iran Abdolnasser Hemmati and Russian National Reinsurance Chief Nikolay Galushin, ISNA news agency reported.
According to the terms of the agreement, both sides are required to facilitate presence and activities of the other side’s insurers in their markets.All news
The significance of insurance and reinsurance in the reinforcement of foreign trade between Iran and Russia, their economic ties development, and also the social unity of the two countries are among the other terms of the MoU.
In December 2017, months after the Central Bank of Iran clinched an agreement with the Export Insurance Agency of Russia to pave the way for Russian banks to fund Iranian projects, four Iranian banks have signed an "unlimited finance deal" with the Eximbank of Russia.
Bank Sepah, the Export Development Bank of Iran, Parsian Bank and Bank Pasargad signed the deal based on which the Russian Exim-bank was supposed to provide funds "without a ceiling" to the four lenders to finance development projects in Iran.
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