Iran Banks Not Ready For Business Following Sanctions Relief


Iran knows full well that the end of international sanctions will only translate to more foreign trade and investment if major global banks re-connect with the Islamic republic.

But of all foreign companies, banks are the most reluctant to resume relations with Iran.

Tasked with courting prospective suitors, Iran central bank governor Valiollah Seif and a battalion of Iranian bankers arrived in Frankfurt this week to meet with European counterparts.

“Short-term relationships between Iran and global partners will not be beneficial – having a long-term perspective for investment in Iran’s banking sector is essential,” Mr Seif told an open session on Iran at EuroFinance Week.

Read more at the BBC