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FinancialNews
04-08-18
Iran to open two banks branches in India
(MENAFN) Chairman of Iran-India Business Council (IIBC) announced that two private Iranian banks, Parsian Bank and Saman Bank, are planning to open branches in India.
Ebrahim Jamili also said: "Saman Bank and Bank Pasargad of Iran will open two branches in India in the near future."
He added that this could, to a great extent, help Iranian merchants as it could open up a significant financial channel to ensure the smooth flow of funds between the two countries following the restoration of US sanctions and amid potential blocking of bank accounts.
The official said the two sides are also exploring the possibility of reviving the rupee-rial arrangement in the wake of the sanctions.
MENAFN0408201800450000ID1097245341
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