”Foreign investors need to be confident that they can have their principal capital and interest whenever they claim it,” Mostafa Parto-Afkanan was also quoted as saying by IBENA.
According to the official, financial guarantees aim to facilitate financing, particularly in the case of a project’s failure, as the bank pledges to compensate any loss or breach of contract to the investor.
“Foreign exchange operations of Bank Sepah before the sanctions era stood at approximately $7 billion. One of the most important concerns of banks during the sanctions era was fulfillment of the obligations imposed on Iranian banks in order to preserve the bank’s standing throughout the world,” Financial Tribune quoted him as saying.