Iran, Indonesia talk banking ties

An Iranian banking and financial delegation has paid a visit to Indonesian capital city of Jakarta to discuss facilitating banking ties between the two countries.

During the visit, the sides called for removing the obstacles hindering the expansion of banking ties between the two countries, IRNA news agency reported Oct. 29.

The Iranian delegation, headed by Ahmad Azizi, a high advisor to Governor of the Central Bank of Iran Valiollah Seif, pointed to the existing capacities for cooperation between the two countries and urged for broadening the ties, particularly in banking and financial spheres.

The sides further laid great stress on the need for establishing direct banking relations between the banks of the two countries aimed at deepening trade ties.

The delegations also agreed to keep in touch as long as banking ties are restored between Iran and Indonesia.

Although the nuclear related sanctions on Iran were lifted following the implementation of the Joint Comprehensive Plan of Action on January 16, Iran still has difficulty establishing banking ties with leading banks as they are worried about running afoul of US regulations.