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The Financial Times says several European banks including Belgium’s KBC, Germany’s DZ Bank and Austria’s Erste Bank have started handling transactions with Iran.
The Financial Times says several European banks including Belgium’s KBC, Germany’s DZ Bank and Austria’s Erste Bank have started handling transactions with Iran.

European banks have reportedly started to re-engage with Iran after over two months from the removal of sanctions against the country.

The Financial Times reported on Sunday that Belgium’s KBC, Germany’s DZ Bank and Austria’s Erste Bank that they have started handling transactions on behalf of European clients doing business in Iran.

Nevertheless, bigger European banks remain on the sidelines, “scarred by a string of multibillion-dollar fines for earlier sanctions breaches in Iran”, the FT added.

KBC, Belgium’s biggest bank, has announced that it had “decided to support its well-established customers in its home markets” of Belgium, the Czech Republic and Slovakia “in their genuine trade with Iran, respecting all EU and US sanctions”.

“Such support is restricted to trade only and always subject to an in-depth screening of each transaction and all parties concerned,” FT has quoted KBC as saying in a statement. “To this effect KBC indeed has developed correspondent relationships with several state-owned and private Iranian banks.”

The daily has further quoted DZ Bank as announcing in a statement that it had started handling payments in euros via Iranian correspondent banks.

“We have started on-boarding Iranian banks in terms of trade finance co-operation, according to standard procedures. Going forward we might also seek to build correspondent banking relationships,” the FT had quoted DZ Bank as saying in its statement.

Both banks, it added, have emphasized that they have “checked” every payment involving Iran for sanctions compliance.

Indications had been specifically growing lately that a legacy of hefty fines by the US on banks that are caught for violating Iran sanctions is deterring businesses from trading with Iran.

Reports said last month that corporate leaders have already become frustrated over this even though the sanctions removal against Iran would have naturally meant the doors are open for investments in Iran.

The failure specifically by European banks to play their due role in business with Iran has already provoked reactions from several EU leaders and business leaders.  

British Prime Minister David Cameron in early March rebuked Barclays for hampering companies trying to export to Iran.

Also, Airbus which sealed an agreement with Iran in January to sell over 100 new planes to the country, has called on EU banks to dispel fears of doing business with Iran.

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The Islamic Republic of Iran Railways will host the First International Oil, Rail and Ports Conference on May 15-16 in Tehran.  The International Union of Railways—the worldwide professional association representing the railroad sector and promoting rail transport with 240 members in 95 countries—and ITE Group, which is an international organizer of exhibitions and conferences, are the organizers of the event. The conference will be held alongside the RAILEXPO 2016 exhibition and held under the patronage of the Ministry of Roads and Urban Development, Ports and Maritime Organization, and Iran’s Oil Ministry, the conference’s website reported. The event will host decision-makers involved in oil and gas transport and logistics in the Middle East and Central Asia, as well as representatives of railroad and intermodal operators, oil and gas terminals, ports and railroad manufacturers. For more information on the conference, people may visit www.oilrailports.com.

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Worldbusinessyear (WBY)  team are pleased to inform that we are  planning to hold roadshow for different sectors in Iran .
    
 

The First International Project Finance and Investment  Conference in Iran  recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions is opening discussion about the current market situation in Iran and its future opportunities.
Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market. Join  Finance 2016:Iran , the leading Seminar offering breakout sessions by industry sector, to ensure you meet experts in the field and the people most relevant to you who will help you to identify and bridge opportunities for your business in a post sanction Iranian economy.
This is the only event in the Iran  that will provide you with to-date market intelligence on topics such as:
• The Political, Legal and Macro Economic Outlook
• Overview of Economic Sanctions; Sectors and Industries Affected by Recent Relaxation of Sanctions
• Opportunities and Challenges for Businesses
• Identifying a Market Entry Strategy – Geographical and Regulatory Framework for Setting up your Business
• Practical and Cultural Considerations of Doing Business in Iran
- See more at: http://www.worldbusinessyear.com
The WBY Iran Summit is the premium gathering for international investors, senior government officials and leading Turkish corporations.
The First annual WBY Iran Summit will examine the increasingly significant role of Iran  on the global stage, the positive shifts in the political and business landscape that are drawing international investors to its shores, and some of the challenges to expect along the way. 
Our speakers and audience will look at the impact and implications of new developments on the following fronts:
The Economic Front: At a time when much of the shine has worn off emerging markets, is Iran  more fragile than ever - or is it making the necessary changes?
The Corporate Front: What does Iran need to do to get the inward investment it needs?

Who should attend?
This highly informative and practical seminar is a must-attend for all who wish to learn more about the constantly changing environment with regards to doing business with and in Iran, as well as those interested in learning about “if”, “when” and “how” they can enter the Iranian market within the international requirements and regulations. The event is targeting C-level executives, In-House Lawyers, Corporate Strategy & Business Development Professionals in addition to service providers.
Job titles include: CEOs, Managing Directors, Managing Partners, General and Regional Managers, Head of Legal & Compliance, Directors, Advisers, Representative of International companies in Iran,Vice Presidents, Managers.
• CEOs;
• Chairmen;
• CFOs and Finance Directors;
• Managing Directors;
• Marketing and Sales Directors;
• Government; and
• Academia


Why attend?
• Join 300+ international investors, senior government officials and leading Iranian  corporates, and add your voice to the discussion shaping Iran’s future
• Immersive networking formats to facilitate conversations with lots of corporate peers facing similar challenges 
• Understand what Iran  needs to do to get the inward investment it needs
• Contextualize your business strategy with the latest thinking on the economic, political and corporate fronts
• Hear how the new administration plans to prepare for Iran's next growth mission
• Are Iran's 2025 goals out of reach? Find out what the experts think
• Be part of the conference social media buzz, and raise your company's visibility to a high-profile gathering - in the room, and beyond

 

Workshop A: Corporate Structures – Comparing Different Legal Entities in Iran
• Comparing setting up main land vs. free zones
• FIPPA (Investment Promotion and Protection Act)
• Type of companies, branch, representative, liaison office
• Looking Into Free Zones – which one is suited for your business?
• Looking into choosing the best local partner – a detailed look at criteria, selection and potential pitfalls
• Best corporate practices and culture
• Labor laws, employment of foreigners
• Corporate reporting and taxation
• Market research and due diligence


Exhibiting/ Partnership Opportunities
The Finance 2016: Iran Seminar – Economic Sanctions and What’s Next is bringing together senior executives from throughout the Gulf region interested in finding out more about the Economic Sanctions and future business opportunities in Iran.
If you want to:
• Promote a solution related to the industry
• Want to network with the decision makers
• Gain direct access to the market
• Demonstrate your products and services
• Increase your profile in the industry
• Generate qualified business leads for your team
The Finance 2016: Iran is the perfect platform!
We offer a wide range of options to suit your specific needs. These can include:
• Exhibition (distribute information about your company/services/products onsite)
• Brand awareness – ensure your logo is being prominently displayed in the extensive marketing campaign leading up to the event and onsite
• Reception or lunch sponsorship
• Speaking position – thought-leadership benefits in an interactive session
• Extensive (Global and Regional) marketing and PR coverage

Date :November 2016


For more information, please contact :This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

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