CBI chief says banking talks with S. Arabia underway

The governor of the Central Bank of Iran Mohammad Reza Farzin said that talks with Saudi banking officials are underway to expand bilateral economic relations.

News ID: ۸۰۹۵۷۶

22 November 2023

Farzin made the comments after attending a cabinet meeting chaired by President Ebrahim Raeisi on Wednesday while talking to reporters at the Presidential compound in downtown Tehran.

Referring to the fundamental changes in the license of the foreign currencies exchange shops, announced this action in line with the Central Bank's greater supervision and said, "The new law and regulations for the approval of the exchange shops will be announced soon."

The Governor of the Central Bank also pointed to the economic relations with Saudi Arabia and noted that banking relations will facilitate Tehran-Riyadh economic relations. He said that the Iranian and Saudi banking officials are holding negotiations, "the result of which will be announced once the banking negotiations between the two countries are finalized."

He further said that the deposit interest rate has been announced to the banks, stressing that the banks that act outside of the Central Bank regulations are violators and their cases will be reviewed by the disciplinary committee.

"The government does not intend to change the deposit interest rates," he concluded. / MEHR