Top representatives of Bank Melli Iran, the country’s biggest bank, and Spain’s Aresbank met on Tuesday to prepare the ground for expanding ties in the near future.

“The requirements for allocating short- and long-term facilities have been determined and Aresbank is ready to discuss this,” Luis Casado, general manager of the Spanish lender, was quoted as saying by BMI’s official website.

He further said Aresbank has improved banking relations with Iranian banks and companies in recent years, stressing that banks can play a vital role in boosting export and import capacities between Iran and Spain, as they currently fall short of their true potentials.

The executive was accompanied by Manuel Grijota, manager of Aresbank’s Commercial Division, and met with BMI’s top representatives for international and foreign exchange affairs, including Gholamreza Panahi, director of BMI’s Department for Foreign Exchange and one of its board members.

Panahi emphasized the necessity of paving the way for foreign and local investments and development of correspondent banking relations, calling on the Spanish bank to support Iranian traders in terms of accepting BMI’s letters of credit to the benefit of Iranian exporters.

Expanding ties for acceptance of short- and long-term facilities, the purchase and sales of foreign currencies and issuance of foreign exchange guarantees were other issues touched on by the executive at the meeting.

  Incentives for Iranians Living Abroad

In separate remarks, the BMI chief executive invited Iranian nationals living in other countries to transfer their capital inside the country and partner with BMI in its lucrative projects.

“Attractive plans and projects have been defined for Iranians living abroad and they can gain significant profits by investing in these projects, in addition to helping their country,” Mohammad Reza Hosseinzadeh added.

“Partnering with BMI would drastically reduce their investment risks and guarantee their success.”

Hosseinzadeh noted that Iranians living abroad will be able to become full-time investment partners with the bank, which will entail better facilities and projects for them.

Source:

2018, Bank Melli Iran Enhancing Ties With Spain’s Aresbank, Thursday, March 1, p.1,<https://financialtribune.com>