Negotiating Iranian bank branches in Switzerland

Negotiating Iranian bank branches in Switzerland
ID : N-1172 Date : 2018/01/30 - 12:16

(Persia Digest) – At a meeting with the Swiss Ambassador in Tehran, the CBI Chief requested the cooperation of the Swiss National Bank (SNB) and their Supervisory Authority to speed up the process of issuing licenses for Iranian banks to open branches in Switzerland.

At the meeting, Valiollah Seif expressed his pleasure about the banking ties between the two countries, and added: “Iranian banks work within the framework of international regulations and have taken constructive steps to conform to global standards.”

He continued: “Bank reforms are ongoing in two areas of “Standardizing banking operations and compliance with international regulations” and “Accounting standards and regulatory reform”.

The Swiss Ambassador to Iran, Markus Leitner, expressed his country’s interest in having banking ties with Iran and announced efforts to provide incentives for their banks to cooperate with Iranian banks.

He added: “Improved banking ties involve a clearer picture of the banking system in Iran and this meeting is a first step in the right direction.”

The Swiss Ambassador expressed satisfaction with the actions taken so far between the two countries, and said: “I will discuss issuing licenses for Iranian banks to open branches in Switzerland with our banking authorities.”

As reported by Persia Digest, Chief of Staff Mohammad Nahavandian traveled to Switzerland on 8 December 2017 and met with Swiss President Johann Niklaus Schneider-Ammann and bankers to discuss solutions for further banking ties and financial and monetary cooperation between the two countries.

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