Iran, Qatar emphasize expanding banking- monetary cooperation
The top bankers of Iran and Qatar stressed the need to boost bilateral cooperation in the banking and monetary fields.
Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin and his Qatari counterpart Sheikh Bandar bin Mohammed bin Saoud Al Thani held talks on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Morocco, Tasnim news agency reported on Saturday.
Highlighting the development of banking cooperation and joint investment after the transfer of $6 billion of Iranian funds to the account of Iranian banks based in Qatar, the two sides explored avenues for the expansion of banking ties using these financial resources.
As Iran’s foreign exchange resources in Qatar are applicable through the Society for Worldwide Interbank Financial Telecommunication (SWIFT), and by opening a Letter of Credit (L/C), technical communications between Qatari banks and six Iranian banks about the issue are ongoing, Iran’s top banker said.
The governor of the Central Bank of Qatar, in his turn, said that his country is committed to its obligations to Iran and there is no obstacle on the path of the development of banking relations between the two countries.
Turning to the fundamental measures taken over the previous days regarding using Iran’s foreign exchange resources in Qatar, Sheikh Bandar said that he will make his utmost efforts to transfer Iran’s assets. The IMF and WBG Annual Meetings kicked off in Morocco on October 9 and will end today.