Iran, France expand banking ties

 


TEHRAN (CBI PR dept) - In a meeting with the Head of French Parliament, the governor of the Central Bank of Iran asked French officials and members of Parliament to help remove the obstacles on the way to establish and complete banking relations between the two nations.



Seif emphasized the necessity of developing banking relations between the two countries and said: “Iran's rich natural resources and young, skilled and educated workforce, as well as its significant consumer market provide a unique opportunity for entrepreneurs and investors and the world should pay attention to this country by making strong banking ties. Certainly France has an influential position among the European countries and can play a major role in resolving obstacles”.
The governor of CBI considered JCPOA as the outcome of diplomatic efforts and post-JCPOA as an opportunity for economic activists and said: “Fortunately, numerous opportunities have emerged after the implementation of JCPOA which require strong banking relations. Given the current situation, the existing banking relations need to expand to facilitate economic relations”.
“According to previous negotiations during president Rouhani’s visit to France and in the meeting with the former and new governor of the central Bank of France, we agreed that the atmosphere for development of cooperation is well-prepared and we should take advantage of it.” said Seif while emphasizing banking relationships as the prerequisite for the expansion of economic ties.

The Head of the Money and Credit Council highlighted the importance of removing barriers and the expansion of ties between the two central banks and said: “Due to the openings after the implementation of JCPOA, we expect Europe to step forward and help remove the barriers.  In this respect, we have had many talks to strengthen cooperation with European bankers”.
“Italy, Austria and Germany have shaped good relations with Iran, but French banking system has been very conservative and acted more cautiously. Now three Iranian bank branches are licensed to work in France but it is necessary that the French authorities encourage their banks to expand ties with Iranian counterparts.” He added.
Seif hinted the settlements with European Insurance Export Institutes and said: “Shortly after the implementation of JCPOA, our colleagues at the CBI, started negotiations with these institutes. Controversies were resolved and all payments were completed”.
The Governor of CBI considered the blacklisting of Iran in FATF as an unjustifiable and politically driven issue and said: “Iran was blacklisted along with North Korea by the Financial Action Task Force while countries such as Nigeria and Sudan were recognized as cooperative countries”.
The Head of the Money and Credit Council reminded Iran’s former ranking at OECD and stressed out: “Iran’s credit rating based on OECD index, has recently been upgraded from 7 to 6 while it was 4 before sanctions. In the last three years, the inflation rate fell from its peak of 40% to a sustainable single-digit level due to government policies. Iranian economy is now stabilized, and economic conditions are even more favourable than pre-sanctions era. We will witness the continuation of financial stability in future. We believe that the ranking of 6 is not fair and we anticipate that the ranking returns to its pre-sanctions level of 4”.
Expansion of Iran and France economic and banking relations
During the meeting, the head of the French Parliament Claude Bartolone informed his country's readiness to expand economic and banking ties with Iran and said: “French officials are aware of the capabilities of Iran and we hope to be able to benefit from them. Suitable measures have been taken so far in economic fields between the two nations and we hope this trend will continue in future.

Claude Bartolone referred to the global measures of FATF and said, “The sensitivities about financial action task force (FATF) are not exclusive to Iran and they extend to other countries as well.”
Emphasizing that both nations should avoid procrastination, Claude Bartolone stressed the need for expanding ties between two countries and said: “The French Ministry of Economy is ready for negotiations in order to expand economic ties with Iran”.
Referring to Iran's role as an observer in Eurasia, he said: “This is a positive sign. The French government is determined to implement all the provisions of JCPOA”.
Regarding the contribution of France to FATF, establishment of financial links with Iran and providing technical assistance, Claude Bartolone insisted that his country intended to exchange experiences and technical assistance with Iran to implement FATF standards and put pressure on the United States. “We are ready to support and cooperate with Iran in this regard," He said.
At the end of this meeting, Bartolone awarded the emblem of his country’s Parliament to Valiollah Seif.

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