Governor of Central Bank of Iran (CBI) Abdulnasser Hemmati (R) and his Syrian counterpart, Hazem Karfoul (L)

Governors of Iranian and Syrian central banks on Monday called for the establishment of a joint bank and implementation of the memorandum of understanding (MoU) already signed by both banks.

Iran Press/Iran news:  Governor of Central Bank of Iran (CBI) Abdulnasser Hemmati in a meeting with his Syrian counterpart, Hazem Karfoul on Monday, hailed the agreements reached by the two countries' central banks, hoping that such measures would help promote economic collaboration.  

Expressing Central Bank of Iran's support for banking cooperation between Tehran and Damascus, Hemmati said Iran-Syria ties have entered a new phase and recent banking deals carry a message for both Syrian and Iranian companies and are a serious step for boosting trade between their businessmen.  

He also called on the Syrian side to remove obstacles for setting up a joint bank.

The head of Syrian Central Bank, Hazem Karfoul for his part, said that fortunately, there are no obstacles in the way of promoting banking relations.

Continued talks will encourage the Iranian and Syrian banks and companies for further collaboration, he said.

Iran and Syria had already agreed on joint mechanisms that could bolster economic exchanges between the two, including the use of local currencies in bilateral trade, injecting more credit to schemes jointly run by banks of the two and launching a system that could enable citizens of the two countries to use special payment cards during visits.

Hemmati said during the meeting that Iran was ready to further help Syria banking sector develop after years of war in the country 

At the end of the meeting, both officials agreed that a committee comprising of representatives from Iranian and Syrian banks will pursue the implementation of the agreements reached earlier.


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