Raiffeisen to open branch in Iran

Raiffeisen Bank International (RBI) is reportedly planning to open a branch in Iran, according to one of its board members, adding that even prior to sanctions lifting the bank had held successful talks with Iran's central bank regarding the opening of a branch. 

RBI board member Peter Lennkh told Austrian newspaper Die Presse on Tuesday that even prior to the removal of international sanctions against the Islamic Republic, the bank has held good talks with Iran central bank officials on opening a branch in Iran and would like to be back in business with the country again.

“Following the implementation of the nuclear deal we wish to have easier banking transactions with Iran, and for this reason we want to offer our customers the opportunity to expand their trade and economic cooperation with Iran,” he said.

“The nuclear deal has created a great opportunity for extensive cooperation with the Islamic Republic and we are making every effort to make the best of it,” he stressed.

In mid-January, the European Union and the US lifted their economic sanctions against Iran after the International Atomic Energy Agency confirmed Iran’s compliance with the nuclear accord.

The end of sanctions period has opened a new chapter in Iran’s interactions with the world.

MS/IRN81947007