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Iran-Europe Commercial Bank to be inaugurated in Tehran

TEHRAN, May 27 (Mehr News Agency) - The first branch of Iran-Europe Commercial Bank will be inaugurated in Tehran on Wednesday.

The Iranian Bank of Industry and Mine in collaboration with related executive bodies in Iran helped establish this bank here.

The Iran-Europe Commercial Bank carries out all operations required for international business.

This bank operates under the license and according to European Union rules and regulations.

This German registered bank has been operating on Iran's southern Kish Island since 2005, and is the country's first foreign bank working in Iran after the victory of the 1979 revolution.

The Bank of Industry and Mine is a main shareholder of this foreign bank.

CBI governor rules out rumor on restrictions for Melli Bank

Tehran, May 27, IRNA - Governor of the Central Bank of Iran Mahmoud Bahmani rejected on Tuesday rumors over restrictions for transactions of Melli Bank of Iran.

"Melli Bank of Iran is not exposed to any sanction. This is just a rumor and there is no concern in this respect," Bahmani told reporters on the sidelines of an annual conference on Iran's monetary policies.

"Iran's banking system and its statesmen have adopted necessary measures to deal with any probable sanction," Bahmani said.

He said that all Iranian banks are able to perform transactions with foreign banks.

"Iran will welcome any country willing to enter banking transactions with Iranian banks," the CBI's governor said.

He added that five to six foreign banks were due to be established in Iran.

Bahmani said that the first foreign bank would start its work in Iran on May 28.

The official did not mention the name of the foreign bank.

He said that the activity of foreign banks in Iran would take place in line with the country's policy to create a competitive atmosphere for the banking system.

... Payvand News - 05/27/08 ... --

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