Iran, Indonesia talk banking ties
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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.
Questions & Answers
Q.What is the primary goal of the Iranian delegation's visit to Jakarta?
What is the primary goal of the Iranian delegation's visit to Jakarta?
The delegation visited Jakarta to discuss facilitating and broadening banking ties between Iran and Indonesia. They aimed to remove obstacles hindering expansion and stressed the need for establishing direct banking relations between banks to deepen trade.
Q.Who led the Iranian banking and financial delegation during the visit?
Who led the Iranian banking and financial delegation during the visit?
The Iranian delegation was headed by Ahmad Azizi. He is described as a high advisor to Valiollah Seif, who is the Governor of the Central Bank of Iran. The discussions took place in Jakarta.
Q.Why is Iran still finding it difficult to establish banking ties despite sanctions being lifted?
Why is Iran still finding it difficult to establish banking ties despite sanctions being lifted?
Iran still faces difficulties because leading banks are concerned about running afoul of US regulations. This reluctance persists even after the nuclear-related sanctions were lifted following the implementation of the Joint Comprehensive Plan of Action.
Q.What commitment did the Iranian and Indonesian delegations make regarding future contact?
What commitment did the Iranian and Indonesian delegations make regarding future contact?
The delegations agreed to maintain contact for as long as it takes to restore banking ties between Iran and Indonesia. This shows a commitment to continue working towards their shared goal of stronger financial links.
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