World Business and Economic Analysis
World Business and Economic Analysis
To strengthen Iran and Luxembourg relations, both nations need banking ties which can be realized through opening of representative offices and bank branches in both countries. In this way, the banking ties will expand gradually.
In a meeting with Deputy Prime Minister and Minister of Economy of Luxembourg, the CBI governor Dr. Seif welcomed the idea of opening bank branches and agencies in Iran and expressed Iranian banks’ willingness to establish branches and representations in Luxembourg and said: “Banking relations will develop concurrent with the establishment of correspondent relations. Iran and Luxembourg economies are complementary to each other. Since Luxembourg is seeking new consumer markets and investment opportunities, and Iran needs to attract foreign investors, it is necessary for both sides to take advantage of the economic potential.
Iran and Russia on Thursday signed a memorandum of understanding to boost bilateral banking and financial cooperation.
The Vice Governor of Central Bank of Iran (CBI) Gholamali Kamyab and Vice Governor of Central Bank of Russian Federation Dmitry Skoblekin signed the cooperation document on the sidelines of a meeting between Iran-Russia banking and financial taskforce held in Tehran.
Based on the cooperation document, the two sides have agreed to fight money laundering and financial support of terrorism.
The memorandum of understanding will also facilitate execution of the Bilateral Currency Swap agreements reached between the two countries
Understanding the Iranian Opportunity
Most financial and economic sanctions against Iran have now been lifted
Iran will be able to trade more freely with the rest of the world, making it one of the biggest new market opportunities
Key facts:
• 80m population with 17m in Tehran
• 35 banks with 20 being retail banks
• 20,000 branches
• 45,000 ATMs with big growth expected
• Currently 4.2m POS terminals, expected to be 5m by end of year
• Cash is still king
• EU trade with Iran currently stands at around $8bn and is expected to quadruple in the next 2 years
• Hungry for payments, banking and authentication solutions to help diversify and innovate it’s economy
The future is about collaboration and connecting the Iranian cards and payments ecosystem with their international peers to enhance both citizen and consumer experience.
The event will bring together the entire ecosystem to develop partnerships, share knowledge, collaborate and do business.
Creating an Iranian market place where sales are made, leads are generated and new ideas are rich and flowing.
Iran is the biggest growth market for payments in the Middle East and international vendors need to get in there now or face being too late.
The Payments Iran conference will be where the C-suite, influencers, leaders and disruptors from Iran and across the globe will assemble to debate, deliberate and explore the future of the payments industry.
The conference format has been designed to enable Iranian banks, government, telecom operators, vendors and Fintechs to learn from the champions of the payments industry from around the world.
Learnings will come from international visionary keynotes, in-depth CEO panel discussions and 20 minute case study presentations from those at the forefront of change.
At Payments Iran you’ll discover how to:
Connect Iran with the world and develop a truly interoperable payments network
Create attractive seamless omnichannel payments experiences
Use predictive analytics to do more than simply collect transaction data
Handle security, risk and fraud in the digital age
Maximise on mobile payments
Harness blockchain technology and new digital currencies
Embrace new innovative FinTech technologies
Integrate loyalty into the payments experience
