Iran-Switzerland banking relations

Iran-Switzerland banking relations

TEHRAN (CBI PR dept) - In his meeting with the Swiss Ambassador in Tehran, Dr. Valiollah Seif, governor of the Central Bank of Iran asked for more cooperation between the Central Bank of Iran and Switzerland regulatory body to expedite the process of granting licenses to Iranian bank branches in Switzerland.

 

Dr. Valiollah Seif emphasized that Iranian banks are working in the framework of international regulations and ambitious measures have been taken in order to comply with international standards. "The reform programme for banking structure is being implemented in the areas of standardization of banking operations, compliance with international regulations and betterment of auditing and accounting standards",  he said.

Doctors Seif went on to say that the Iranian banks are under asset quality review (AQR) and based on the results, each individual bank will receive its own particular reform plan.

Mr. Leitner the Swiss ambassador in Tehran expressed his country' willingness to expand banking cooperation with Iran through encouragement of Swiss banks to engage in more relations with their Iranian counterparts. "We need a much more transparent view of Iranian banking system in order to develop banking cooperation. This meeting can be counted as an introduction for realisation of such a purpose", he mentioned.

Expressing his happiness with the measures taken regarding the development of banking relations between the two countries, the Swiss Ambassador in Tehran promised to discuss the issues of licensing Iranian bank branches in Switzerland and the expansion of correspondence relations with Swiss banking authorities.

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