Iran, Belarus ink 3 banking MOUs

Tehran Times Economic Desk

MINSK - The central banks of Iran and Belarus signed three cooperation deals to expand economic cooperation.

IRINN news network quoted Iranian Central Bank Governor Mahmoud Bahmani saying, "From now on Iran and Belarus will use their own currencies for the mutual trade."

Iran will arrange training courses for Belarusian specialists to teach them Islamic banking, he added.

Also according to the MOUs, the two countries decided to connect their automated teller machines (ATM) networks. In addition Iran will grant a 50 million euro credit line to Iranian investors in Belarus.

Iran will also mint Belarusian coins.

Petr P. Prokopovich Chairman of the Board of the National Bank of the Republic of Belarus said the agreements will help consolidate economic relations between the two countries.

He stated that hopefully Belarus will open a Belarusian bank in Iran as Iran established two banks in Belarus. Thirty two foreign banks with a total capital of over $4 billion are working in Belarus.

The National Bank of Belarus registered Iranian banks the 'Onerbank' and 'Trading Capital Bank (TC Bank)' respectively in October 2009 and December 2008


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