Iran, Malaysia to boost trade cooperation

Deputy Governor of Central Bank of Iran (CBI) for foreign exchange affairs Gholamali Kamyab stressed the need for promoting trade using local currencies in a meeting with his Malaysian counterpart, saying that CBI’s current policy is to facilitate transactions through domestic currencies.

ISNA- Deputy Governor of Central Bank of Iran (CBI) for foreign exchange affairs Gholamali Kamyab stressed the need for promoting trade using local currencies in a meeting with his Malaysian counterpart, saying that CBI’s current policy is to facilitate transactions through domestic currencies.

Kamyab who is currently in Kuala Lumpur at the head of a banking delegation, said that Iran welcomes Malaysian banks’ enthusiasm to open accounts in Malaysian currency, ringgit, in the Iranian banks.

He added that the Chinese Yuan or Japanese Yen can also be used in transactions if deemed necessary.

Commenting on the post-sanctions situations for Iran and exploring avenues for strengthening trade between the two countries, the Iranian official noted that currently, Iranian banks are connected to the Euro clearing system which has facilitated conducting transactions with the European banks.

Feb 25, 2017
ISNA |