FINANCE Islamic finance

Future of Banking in Iran Discussed at Euro Finance Week

“Despite oil prices remaining low next year, Iran’s economic growth will continue” said Vali Zarabiyeh, The chairman of the Board of Directors of Iran’s Saman Bank at Euro Finance Week.

The chairman of the Board of Directors of Iran’s Saman Bank has expounded on the business climate in the country at a major financial and banking conference in Europe.

Vali Zarabiyeh elaborated on the business atmosphere in Iran while addressing the European bankers and economic activists attending the gathering (November 16-20) in the German city of Frankfurt, which marked the 18th Euro Finance Week, reported the bank’s Public Relations Office.

In his speech at the conference which revolved around Iran-Europe economic ties, the senior manager enumerated key elements in economic relations between Iran and European countries.

He touched upon challenges to the re-establishment of banking relations between Iran and Europe, saying, “We have adopted all necessary measures to draw in foreign investment and [encourage] participation in economic projects in the post-sanctions era, and we stand ready to boost our banking cooperation even [to a level] higher than that in the pre-sanctions era.”

He referred to the efforts made to compare Iran’s local laws on fighting money laundering with international ones, saying, “The issue of fighting money laundering is one the topics which are under the spotlight in banking as well as international relations. Accordingly, tremendous efforts have been made to upgrade [our] banking knowledge on new rules and approaches on fighting money laundering.”

“Based on predictions by international institutions, despite oil prices remaining low next year, Iran’s economic growth will continue and the climate will be suitable for foreign investment,” said Zarabiyeh.

The Euro Finance Week is the largest banking and financial conference in Europe. For the first time this year, Iran-Europe economic relations were on the agenda as well.
It is noteworthy that the gathering was also attended by Iran’s Central Bank Governor Vali-ul-lah Seyf, Iran’s ambassador to Germany and top Iranian bank managers and economic activists.

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