1/26/2017 12:00:00 AM - 10:49
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Iran, Turkey Central Banks ink cooperation agreement
January 25, IFIF public relation- Iran and Turkey central banks inked an agreement for banking ties between the two countries to integrate the two countries payment network and using national currencies for trade exchanges.
During the third meeting of Iran-Turkey banking committee in Tehran, the agreement was inked by Mohammad Yaqoubi, CBI's deputy for international affairs, and Mehmet Taskin, deputy executive director at Central Bank of Turkey.
The committee aims at removing banking obstacles to expand the two countries trade volume. Both countries are to increase their trade volume to 30 billion dollars by the end of 2017.
Currently three branches of Bank Mellat are operating in Ankara, Istanbul and Izmir. Saman Bank, Parsian Bank and Bank Pasargad Iran have reportedly applied for opening branches in Turkey.
Export Development Bank of Iran and Turk Exim Bank also agreed to start a seven-year cooperation scheme over Turk Exim's investments in Iran