Eight Iranian Banks Ready For Financial Transactions With Qatar

Tehran, Sept 10, IRNA – Head of Iran Trade Promotion Organization Valiollah Afkhami-Rad emphasizing promotion of trade cooperation between Iran and Qatar said currently eight Iranian banks not included in the sanctions list can become active in financial transactions with Qatar. Speaking at a meeting with a Qatari trade delegation, Afkhami-Rad emphasized that as long as the issue of money transfer remains unsolved there would be no opportunity for expansion of trade relations. He said currently eight Iranian banks, both public and private, which are not subject to the sanctions, can transfer money to Qatar. He said Iran can transfer money through these banks should Qatar voice readiness. “Despite imposition of sanctions on Iran, in recent years we have been witness to export of commodities to other countries so that in the first five months of the current calendar year (April – August 2014) over $25 billion worth of goods has been imported and an equal amount has been exported.” He said officials of both Iran and Qatar are interested in increasing volume of transactions, pointing to $115 million worth of trade between the two countries. He said both sides have greater capacities which should be utilized to yield positive results. As for the operation of Iran-Qatar shipping line, Afkhami-Raz said this line will become operational in a near future upon Qatar’s agreement and Iran is also ready to provide necessary requirement for the shipping line./end