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Head of Monetary and Banking Research Institute (MBRI) said opening branches of Iranian and European banks had been placed on the agenda.

Speaking at the 4th Iran-Europe Trade and Banking Conference in the IRIB International Hall, Ali Divandari said the event mainly seeks to review process of reforms in Iran’s banking system in order to speed up connections to the international system.

In the meantime, issues like future of the industry, launch of Iranian banks in Europe and meeting international standards will be surveyed by experts during the two-day conference.

MBRI managing director described Europe as the second largest trade partner of Iran after Asia and expressed optimism that the event will prove effective in facilitating trade and banking relations between the two sides.

He noted that MBRI, as the research arm of the Central Bank of Iran (CBI), had put on the agenda serious measures to reconnect Iran’s banking system to the global one as a means of paving the path for expansion of trade and banking ties.

“Investment opportunities in Iran, especially in infrastructure and energy sectors, will be introduced to foreign guests of the conference,” Divandari underscored.

He reiterated that compliance to international rules and regulations and combating money laundering were major prerequisites to reconnection of Iran to the International banking system.

The Monetary and Banking Research Institute is holding the 4th Iran-Europe Trade and Banking Conference in the IRIB International Hall on 29-30 April 2017.

The main objectives of the conference include the exchange of ideas between various scholars and specialists from different economic fields; active participation of reputable domestic and foreign firms; holding of multilateral meetings between European individuals, companies and institutions and their Iranian counterparts; provision of a platform for meeting potential customers and trade partners; building private and personal communication networks; and also introduction of various products and services.

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German Linde Group has received green lights from Euler Hermes, a credit insurance company to become the greatest contractor of Iran’s LNG projects.

New round of Iranian officials and Germany’s Linde Group sat to discuss the LNG projects. The former had signed a deal to provide technical support for Kian Petrochemical Complex earlier and signaled its participation in country’s greatest petrochemical projects during new round of talks with the Imam Khomeini Petrochemical Complex.

New investments, technology transfer, training, and research and development projects constituted the topics of discussion. The new rise in German company’s willingness is attributed to assurances Euler Hermes Credit Insurance Co., which would provide insurance coverage to enterprises acting in Iranian setting, which would have been impossible without provisions of JCPOA.

Currently, Iranian Petrochemical Industries Co. is engaged in hectic negotiations with German banks to open a credit line worth of € 3bn to finance its highly crucial projects. In the first 11 months following JCPOA, German giants in industry, and tech, including Siemens, had commissioned with Iranian officials to participate in selling machinery and rotating facilities, investing and joint ventures with Iranian native companies.

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