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.