70 percent of banking expectations from JCPOA realized: CBI chief

EghtesdaOnline: Seventy percent of expectations from the Joint Comprehensive Plan Of Action in banking field has been fulfilled, Governor of Central Bank of Iran Valiollah Seif said.

News ID: ۷۳۹۵۰۲

30 January 2017

“No one can ignore the JCPOA outcomes for the Iranian economy and 60 to 70 percent of expectations from the nuclear deal have been already materialized,” the official added.

He said, “90 percent of the operations, needed in banking and foreign trade fields are now possible.”

Significant increase of production and export of oil which resulted raise of country’s foreign currency is another outcome of JCPOA, Seif added.

According to ILNA, he noted that all nuclear-related sanctions were lifted after implementation of JCPOA.

During the sanctions era, parts of banking operation were transferred to exchange offices, but CBI is trying to return them to the banking sector, CBI chief added.

Speaking on foreign banks' concerns about revival of relations with Iran, he said, “Certain foreign banks are concerned about return of Iran’s sanctions.”

International standards for banking are not respected in Iranian banks and this is another reason for foreign banks’ doubts to revive ties, Seif noted.

He underlined that after removal of sanctions, CBI was able to transfer its currency reserves to European big and central banks.

Iran currency reserves are better than any time else, the official added.

He said, “Iran has transferred its currency reserves to various countries in order to prevent their blockade in a particular country.”