Malaysian big banks ready to resume banking ties with Iran

EghtesadOnline: The C.E.O of Malaysia External Trade Development Corporation (MATRADE) Dzulkifli Mahmud said that Malaysian big banks are ready to resume ties and interactions with Iranian banks.

News ID: ۷۳۷۶۶۷

24 October 2016

Speaking on the sidelines of Iran-Malaysia joint trade meeting which was held on Saturday in Iran's Chamber of Industry, Mine and Agriculture, Mahmud said that the senior officials of Malaysia Central Bank (CIMB), Maybank and some other big banks which disconnected their relations with Iran during the sanction era are now keen on discussing with Iranian banking officials to resume relations.

Mahmud added that the volume of bilateral trade between Iran and Malaysia raised by 8% during the first 8 months of the current Iranian calendar year (beginning on March 20), reports IRNA.

The value of Iran-Malaysia trade was $532m in 2015 and both countries tend to boost it to $.1b.

MATRADE chairman reiterated that Malaysia is interested in having cooperation with Iran in different fields, including oil and gas, car, Halal food industry, electricity, information technology and communication, renewable energies and automation industry.