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Syria, Iran Agree to Establish Joint Banking Committee

Central bank governors from Syria and Iran have agreed to implement the memoranda of understanding and and expand banking relations writes SANA.
Syria, Iran Agree to Establish Joint Banking Committee

Governors from the Central Bank of Iran (CBI), Abdul Nasser Hemmati, and the Central Bank of Syria (CBS), Hazem Qarfoul, reviewed ways to strengthen and expand banking relations, set up a joint bank and implement the memoranda of understanding that have already been signed by both sides.

During a meeting in Tehran on Monday, Hemmati and Qarfoul agreed on setting up a joint banking committee comprised of representatives from the two countries’ banks, under the auspices of the central banks of Iran and Syria, to follow up the implementation of the memoranda of understanding signed between them. 

Qarfoul expressed Syria’s willingness to cooperate with Iranian banks, welcoming the transfer of Iranian technological expertise to Syrian banks.

The Iranian official, in turn, hailed the memoranda of cooperation concluded between the two countries’ central banks, hoping that the banks will take steps to implement these agreements and strengthen bilateral economic relations.

Hemmati voiced his full support for efforts to develop cooperation between Iranian and Syrian banks, saying that Iranian-Syrian economic  ties have entered a new phase and that the recent banking deals send a message to companies that serious steps are being taken to boost trade between businessmen in both countries.


This article was edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.

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