Middle East Bank is set to open its Munich branch in the German state of Bavaria by the end of September, a board member of the bank announced. “The inauguration of the branch was supposed to be finalized by the end of August, but there has been a small delay,” Hossein Salimi was also quoted as saying by JameJam Online. Noting that the location of the bank has been decided, the official said the initiative is being finalized in the Bavarian State Parliament. In May, the Bavarian deputy economy minister for economic affairs and media, energy and technology of Germany, Markus Wittmann, said that among Iranian banks that had filed applications to open a branch in Germany, MEB’s and Sina Bank’s request have been approved. He made the announcement during a Bavarian delegation’s visit to Tehran. The move is aimed at enhancing the prospects of Iran-German financial interactions. The southern state of Bavaria is Germany’s biggest state, hosting many industries, including BMW, Audi and Siemens.
Source: financialtribune- Date: (08 August 2017)