Iran - Malaysia collaborate in the field of Islamic banking

Iran - Malaysia collaborate in the field of Islamic banking

Kuala Lumpur (CBI PR dept) – CBI Governor considered the opportunity between Iran and Malaysia as positive and said, “Malaysia is one of the leading countries in Islamic banking and its banking system is improving in this area.  This country has been able to produce new tools in accordance with Islamic principles. We hope that cooperation between the two countries expands by mutual exchange of experiences”.



Seif, who accompanied the president on a trip to South East Asia, pointed to historic and good relations between the two countries and said, “Malaysia has held very good relations with Iran. During pre- sanctions era, the volume of trade relations between the two countries was much higher than current levels. Unfortunately due to the conditions created by the sanctions, these relations faced some interruption. We hope the president's trip to this country and his meetings with Malaysian authorities open a new chapter and the next turning point in relations between the two countries begins.
"Banking relations is one of the most fundamental issues that affect the economic growth and relations between the two countries. Accordingly, the meeting with the deputy governor of the central bank of Malaysia could lead to positive results regarding the establishment and expansion of economic relations between the two countries." said the Governor of CBI, outlining banking issues as one of the main topics of discussion between the two countries.
He considered cooperation of commercial banks as the other main topic for negotiations between the two nations and said, “Another focus of talks was on issues related to commercial banks including communication via a joint account to facilitate the settlement of trade transactions between the two countries”.
Since a large number of tourists visit both countries, the proposal to connect the bank card switches was another topic on the agenda. This was added to the idea of formation of a joint committee in which both sides can address banking and other issues.
Head of Money and Credit Council informed the visit of Governor of Central Bank of Malaysia to Iran and said, “Following Iran's invitation from the Governor of Central Bank of Malaysia, he is supposed to visit Iran in the near future so that these discussions between the two countries will be finalized and agreements will be put into operation.
Referring to the joint cooperation of the two nations in some international communities, Seif said, “Fortunately, Iran and Malaysia have already had joint collaborations in international communities, especially in Islamic banking institutions. We hope that such cooperation will further expand through strong banking ties.”
 The Islamic Financial Services Board (IFSB) is one association in which Iran holds vice-presidency in 2017 and will assume its periodical presidency in 2018.

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