Iran, Oman eye setting up joint bank: CBI governor
Iran and Oman are discussing the idea of setting up a joint bank to facilitate their trade dealings, according to Central Bank of Iran (CBI) governor Mohammad Reza Farzin.
A Wednesday report on CBI’s website quoted Farzin as saying that he had some “good discussions” with Omani authorities during a visit to Muscat earlier this week about the possibility of establishing a joint bank to make it easier to settle payments and to facilitate the direct transfer of money between the two countries.
“The parties managed to work out some solutions to increase (their) banking and trade exchanges,” he said.
The chief banker said that Iran and Oman had also discussed challenges facing the CBI and Iranian businesses in Oman, a reference to US sanctions that restrict Iran's access to international banking services.
Farzin said that the two countries had agreed to expedite the processes for issuing bank guarantees for exporters and importers.
“Generally, we reviewed all monetary and banking issues and agreed that both settlement and transfer operations should be facilitated," he said.
The CBI governor said that Iran and Oman will also work to strengthen their trade infrastructure, including ports and shipping lines, to increase their bilateral trade.
He said Iran is also planning to repeat a successful experience with Russia to provide debit card access to Iranian and Omani nationals visiting the two countries, saying the project is expected to be launched in the next two months.
Farzin was in Oman concurrent with a visit by Iranian President Masoud Pezeshkian to the Persian Gulf country which culminated in signing 18 major memoranda of understanding to boost cooperation between the two maritime neighbors.
Pezeshkian’s visit to Muscat came amid Oman’s continued efforts to mediate indirect talks between Iran and the United States as the two seek an agreement that could remove US sanctions from Iran in return for curbs on Tehran's nuclear program.
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