TEHRAN: Central Bank of Iran (CBI) governor Mohammadreza Farzin has said that a direct connection has been established between the banks of Russia and Iran.
The top Iranian banker said that within the framework of the joint action plan of banking cooperation inked last year by the two countries’ central banks, the first step towards implementation has been taken.
Farzin said that the Iranian banking network will have a direct connection with other 106 foreign banks.
Central Bank of Iran announced on Sunday that the electronic financial messaging system of Iran (SEPAM) and the Financial Messaging System of the Bank of Russia (SPFS) were connected following the signing of a deal between the two central banks.
Step to help banks
Karimi said that the step will help prepare the ground for banks and traders from the two countries to expand cooperation and increase transactions without facing restrictions of the international sanctions. –XINHUA/APP
