Restrictions on Bank Saderat branch in Paris removed

EghtesadOnline: French Central Bank lifted restrictions on Iran’s Bank Saderat branch in Paris, paving the way for normal banking transactions in the branch.

News ID: ۷۴۰۷۵۹

05 April 2017

According to Saderat Bank website, following regular and effective diplomatic, legal and banking pursuits by directors of relevant sectors and after the implementation of the Joint Comprehensive Plan of Action (JCPOA), French Central Bank officially declared removal of restrictions imposed upon the Iranian bank in the French capital, making it authorized to offer all banking services.

Earlier, European Union had announced exclusion of Bank Saderat from the list of sanctions, a move beneficial both for those concerned and Iran’s economy, IRNA reported.

Bank Sadert with 27 foreign branches abroad as well as its high capabilities have had numerous positive impacts on the country’s economy including facilitating international trade, reducing costs of currency exchanges and boosting investment.

Banking experts maintain that exclusion of the bank from the list of sanctions and reconnecting to SWIFT (Society for Worldwide Interbank Financial Telecommunication) will bring about further profitability, international credit and diverse currency services.