Central Bank of Iran (CBI) Governor Valiollah Seif said various Italian and French banks are willing to open branches in Iran.
At a local ceremony, Seif said that no risk threatens the foreign banks.
First, banking representatives of those countries were dubious about opening their branches in Iran because they did not have enough information about the details of the Joint Comprehensive Plan of Action (JCPOA), so they were careful to issue LC (a document, typically from a bank (Issuing Bank), assuring that a seller (Beneficiary) will receive payment up to the amount of the letter of credit, as long as certain documentary delivery conditions have been met), said he.
Undoubtedly, when they were certain about the conditions, they expressed willingness to widen banking relations with Iran, the CBI governor said.
During recent visits of Italian and French presidents to Tehran, banking officials of those countries were given due information about the issue; then they showed eagerness to open branches in Iran, said he, adding such opening is being gradually followed up.
It is expected that foreign banks will develop relations with Iran soon after they are informed of the details about the JCPOA, said Seif.
Iran and the six world powers reached a landmark nuclear agreement, known as the JCPOA, on July 14, 2015.
Implementation Day of the JCPOA was on January 16, 2016, as the International Atomic Energy Agency (IAEA) verified Irans nuclear program and anti-Iran sanctions were lifted.
Removal of sanctions has led to release of 34 billion dollars of Irans frozen money, said he.
Source: IRNA- Date: (23 February 2016)