CBI Approves Launch of Joint Bank with Syria: Official

An official at the Iran-Syria Joint Chamber of Commerce said the Central Bank of Iran (CBI) has approved setting up a joint bank with Syria.

News ID: ۸۲۸۳۲۵

03 March 2024

EghtesadOnline: Agreements between Iran and Syria are carried out by the governments of the two countries but the private sector will enforce it, the vice chairman of the Iran-Syria Joint Chamber of Commerce said.

Ali Asghar Zebardast made the remarks at a conference, hoping that the agreements inked between the two countries will be put into operation in the near future.

Enumerating some problems facing traders of the two countries, he said that money transfer is one of the pressing problems.

He went on to say that the Central Bank of Iran has approved the establishment of a joint bank and issued the license for setting up the bank, IRNA reported.

Zebardast called on the Syrian officials to cooperate with the Iranian side in line with removing the trade barriers facing the traders of the two countries.

He put Syria’s annual imports value at about $5 billion, saying the value of trade between Iran and Syria stands at between $250 million and $270 million which is much lower than it should be.

The two countries enjoy high potential to broaden their bilateral trade, he emphasized.

The Conference of Introducing Opportunities of Entering the Syrian Market was held at Morvarid Hall of the Trade Promotion Organization of Iran with the participation of Syrian Ambassador to Iran Shafiq Dayoub, Director General of West Asia Office of the TPOI Abdolamir Rabihavi, and a number of the economic activists of the two countries. / Tasnim