Iran's Sina Bank to open branch in Munich

EghtesadOnline: Iranian Sina Bank is supposed to open its first branch in Munich, Germany in the next Iranian calendar year (started on March 21, 2018), banking official said.

News ID: ۷۸۰۱۶۱

29 October 2017

We have sent required documents to KPMG Company, Member of Sina Bank board of directors Mohammad Reza Saroukhani told Islamic Republic News Agency (IRNA) on Saturday on the sidelines of the 23rd Press Exhibition in Tehran.

According to IRNA, KPMG is a professional service company and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY), and PricewaterhouseCoopers (PwC).

KPMG has review documents as regard risk management and fighting money laundering, he said.

Sina Bank and Bavarian Industry Association (vbw) agreed to open branch of Iranian bank last year.

Based on the agreement, both sides will boost cooperation in information technology, food industry, banking operation, financial services, building industry, agriculture, animal husbandry, renewable energies, textile industry, tourism, joint investments and technical information exchange.