Indonesian bank to start direct banking co-op with Iran soon

EghtesadOnline: Chairman of Indonesia Eximbank Ngalim Sawega announced that it is going to start direct banking cooperation with Iran in near future.

News ID: ۷۳۸۷۲۸

20 December 2016

Talking to IRNA, Sawega said his bank is ready to resume banking interactions with Iran within the framework of mutual agreement between Indonesia Eximbank and Export Development Bank of Iran.

At present, the two sides have banking relations through a third country which is time-consuming and costly so they are starting a direct banking cooperation, Sawega said.

On the sidelines of Iran-Indonesia trade meeting, Sawega said the agreement on cooperation signed between the two banks is important as it will pave the way for fostering trade exchange.

About the past ties with Export Development Bank of Iran, the official said Indonesia Eximbank has held regular annual meetings with the senior officials of the Iranian bank.

Sawega, who is the executive director of Indonesia Eximbank, referred to the fight against terrorism and money laundering as the moves which will facilitate banking relations.

About the likely impact of the policies of the US President-elect Donald Trump on banking ties with Iran, the official said they will not affect relations with Iran as long as those ties are under the regulations.

During the first seven months of the Iranian calendar year started on March 20, 2016, Iran exported different products to Indonesia which was at the worth of 74 million dollars.