Top Banker: 8 Iranian Banks Operating Abroad

Date: 26 May 2023 - 23:14

News ID: ۱۱۵۴۵۸

TEHRAN – Governor of the Central Bank of Iran Muhammad Reza Farzin has said that more than 8 Iranian banks operate abroad and 49 branches of Iranian banks are operating in different nations including England, Germany, Russia, Iraq, United Arab Emirates, and France.
Referring to the financial and commercial characteristics of Iran’s economy, Farzin said, “Although Iran’s economy has been facing sanctions from Western countries for decades, these sanctions have intensified in the last decade and have targeted the monetary and financial sectors of the country.”
“However, Iran’s economy has been able to continue to have a wide and dynamic financial sector by relying on domestic capabilities and cooperation with regional countries,” he added.
Referring to the capacities and capabilities of Iran’s economy, Farzin said, “In the field of foreign trade, according to preliminary estimates, the total value of goods (customs) trade of Iran’s economy with the outside world in 2022 will amount to 160 billion euros, which shows an increase of 18.1 billion compared to 2021. Also, the total value of services trade in 2022 is estimated at 25 billion euros, which indicates a 44.0% growth compared to 2021.
He also said that 150 countries in the world are export destinations for Iran’s economy and from 121 countries the country’s customs have imported goods. The high volume of trade in goods and services and the diversity of business parties have created a suitable field for the development of regional and international cooperation.
The CBI Governor further added, “In the field of tourism, due to Iran’s vast historical, cultural, natural and economic capacities, many people from different countries travel to Iran every year. Last year, more than 4.8 million people from different countries of the world entered Iran. Also, this year, about 9.8 million Iranians have also visited other countries, which shows the interest of Iranian people to learn about other cultures and nations.”
Elsewhere Farzin further stated that “The conditions for the presence of foreign banks in Iran have been facilitated, and despite the economic and banking sanctions, we are currently witnessing the presence of some foreign banks or the establishment of joint banks in Iran.”